The Difference Between Credit & Debt: Understand Money

Earn $70,000 Annual Now Accredited Investors Only: Contact Me For Limited Liability Company for using capital to invest in High Cash Flow Real Estate (Apartments & Hotels) Free Wealth Creation/Business Training Financial Consulting  Career Advancement Consulting The Career Advancement Program Join/Subscribe to a growing group of Wealth Creators Free Wealth Building ebook The purpose of this audio is to highlight the concepts of credit and debt, best and worst practices, and much more. The agenda for today is primarily an overview of credit and debt and will provide greater understanding of the subjects.  First, ill share a quick story.  A multimillionaire who has a net worth of 540 million dollars was first a broke salesperson. He would hear people say and give saving tips but the issue it that if you don’t have money to save you can’t save. The solution was to increase your income combined with saving and investing.  Debt comes into play here simply because he at a young age purchased an apartment complex, an income producing asset, which generated about $60,000 in cash flow after expenses annually. This deal was financed through debt and the tenants paid the debt off for him as he obtained positive net cash flow.  He mentions that most wealthy people use debt to get wealthy. This is a good example of using debt to become wealthy. On the contrary, people if not knowledgeable, use debt in bad ways and suffer severely.   Later, I will discuss how people get in trouble using debt in the wrong way. For now, I’ll start with the basics of credit and debt. Financial Consulting  Career Advancement Consulting The Career Advancement Program Join/Subscribe to a growing group of Wealth Creators Free Wealth Building ebook Let connect on Social Media: Follow My pages for daily insights on increasing your wealth:  Twitter Pinterest Facebook LinkedIn Instagram