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WTF is Good Debt?
Manage episode 364712826 series 3470178
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It is totally normal to view debt as dangerous, to view debt as something that can mess up your future. If you’re anything like me, you probably grew up hearing messages that debt was bad. “Credit cards are evil” and “Loans mean you’re poor”. Taking on debt basically meant you were in an inescapable hole, aka “snowball debt” that would be extremely hard to dig yourself out of. But what about good debt and something called snowball wealth? The same concept that applies to debt applies to wealth.
If you look at any billionaire these days, you’ll not only find they have debt, but they’re actually making money from their debt! This is what we categorize as good debt. Now this message may be hard for your subconscious to hear, since most of what we’ve been told surrounding debt and money are… well… lies. So let me start by saying it’s ok if it feels tough to bridge this gap and that is exactly why this podcast exists, to surround ourselves with messages that make money easier for us.
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