Going to talk about your financial health today.
Do you know the difference between good debt and bad debt? This is very important.
Bad debt is what we buy ‘toys’ with, cars, boats, jet skis, expensive jewellery etc – non appreciating liabilities.
Good debt is what we use to purchase appreciating assets, like property. Things that go up in value, not down.
You want to be collecting assets so that later you can buy toys. If you do it the other way around, you are destined to be broke. (unless you have a h u g e income)
If you haven’t read Rich Dad, Poor Dad now is a good time.
Yours in wisdom, Arlene
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