Good Debt is the type that allows you to accumulate assets that will increase in value either by capital gains it by generating CashFlow. You can use the income derived from the asset to repay the debt.
Why do people get into debts? Remember, I once said that, “making money is a choice while spending money to survive is inevitable. But how do you spend what you have not made?”. People get into debts when their expenses exceed their income. If you’re spending more than you make, then it is obvious that
This is more of a reason you should strive to be financially free so you’ll never have to borrow money again. Think about how frustrating it can be when your debtor fails to pay you in time and you’re really in need of that money… When this “betrayal” consistently repeats itself, it has been proven
So many of us – if not all – passed through school without the slightest understanding of the most important thing that served as the motivation for our being in school in the first place – Money. We went to school to acquire knowledge or employable skills that will earn us a living in future