That’s right… being in debt is worse than having no money!
So what is debt? Debt is money you borrow, whether it’s from a friend, a bank, or when you use your credit card, with the agreement that you’ll pay it back, often with interest. And the longer you take to pay it, the more the interest grows. So being in debt is owing someone!
Many people are afraid of being in debt, but not all debt is bad. Debt can be a great tool to help you achieve your financial goals, IF you use it the right way. I’ll get into all of that in some later videos, so stay tuned!
But even though debt can be useful, it’s a big responsibility, so in Debt Do Over, we’re going to talk about managing debt, using good debt and getting out of bad debt. Click here to access the course!