April 6, 2020
GOOD DEBT VS. BAD DEBT

GOOD DEBT VS. BAD DEBT


Hey Austin Mayfield here. I hope you’re doing great today. I’m gonna do a quick follow up from my previous video about Leveraging debt and the difference between good and bad debt. It’s really simple debt such as a credit card or Something of that nature if you take out a loan or purchase things on credit cards simply to Buy food or pay your bills or something like that. That is bad to be a bad debt If you’re using a credit card or taking out a loan To purchase an asset and ask that means something that it’s going to make you money the return on That borrowed money is gonna be greater than the price to borrow it. Okay That’s good and bad very very simple concept and I’m sure you already knew this most of you But if you did sometimes we forget Put unnecessary purchases on credit cards things that we shouldn’t be buying Things that appreciate I focus on purchasing stuff using your credit lines credit cards business lines of credit revolve any kind of revolving line of credit or Simply a loan business loan use it for that use it to make money Don’t buy stuff with that learned money borrow debt That does not appreciate Appreciate and value very simple quick lesson there got free opportunities for you in the description below this video If you’re new to this new to the channel hit that subscribe button and give this video a thumbs up if you enjoy my content Austin Mayfield, thanks

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