Tagged: stay out of debt

Burning Money Debt 0

Debt 101: Eliminating and Staying out of Debt

As we like to say, debt is the devil. Debt can be the ultimate menace in your wealth-building journey. We do not care if your savings account is earning 7% interest; your debt will find a way to destroy you financially. One of the biggest influences on building wealth and financial freedom is eliminating and staying out of debt. If we look at the net worth equation: Value of Assets – Value of Liabilities, we can see how detrimental debt can be. First, we will look at assets (anything that you can consider to be making you money). We will...