Growing up in a middle-class American family, I always learned to avoid debt as much as possible.
There is a good reason for this. Debt can be dangerous if not used prudently.
Most people use debt to finance a lifestyle they cannot afford — buying cars, jewelry, clothes, vacations, and houses that make them look rich.
This “consumer” debt actively works to make you poor, especially when used on things that go down in value like cars.
I’ve written other articles about how to use debt wisely to grow wealth, but today I wanted to touch on the risks of debt and how to think about it.Click here to read the full story...
Best of luck and let me know how I can help!
Founder, Building Arks
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