Today, I want to talk about debt.

Let me start by asking you a question.

Do you have any debt right now?

Either a student loan, credit card, mortgage, car payment, or a personal loan?

If I had to guess, you probably answered "Yes."

If so, you’ll want to stick around for the rest of this email.

If you answered "No,"

Congratulations! 🎉

I can confidently say you are a rare species of human, almost on the brink of extinction.

Be careful…

National Geographic might be looking for you to take you back to the museum! 🏛️

Because people like you barely exist anymore.

The fact is, most people have debt right now.

As a society, we’ve accepted it as normal.

But here’s the problem.

Just because you have debt doesn’t mean you understand it.

And if you want to build strong personal finances, you must understand debt.

And no.

It doesn’t count when the bank or a credit company explains it to you.

You need to learn from a neutral source.

One that isn’t trying to sell you debt.

This should be obvious.

But for most people, it’s not.

So let’s go ahead and address it.

Having debt doesn’t make you financially stronger.

Let me put it another way.

Debt is NOT good.

In fact, debt is BAD for you.

Now, notice the keyword, "for you."

You’ve been told that debt is good.

Because it’s good for the bank. 💰

But not for you.

And here.

We focus on making YOU financially stronger.

Not the bank.

When you borrow money, you owe someone.

To a bank.

To a financial institution.

To a friend.

To a family member.

To someone.

And when you owe someone else, you are a slave to your debt.

Maybe you’ve heard this phrase before.

"The borrower is slave to the lender."

And I don’t know about you, but I am no slave.

Are you?

Debt prevents you from being financially strong.

Debt is incompatible with financial stability.

You cannot be financially strong if you have debt.

Period.

Now.

There are two types of debt.

Bad debt.

Which is the one paid by you.

And Good debt.

Which is the one not paid by you.

It’s paid by someone else.

Bad debt is the problematic one.

Bad debt is the one that hurts you.

Bad debt is the one you need to get rid of.

Bad debt is the one that makes you financially weaker.

What does bad debt look like?

Credit Card debt.

Car loans.

Personal loans.

Mortgage for a home.

In simple words.

Every time you borrow money to cover for personal expenses.

AKA your lifestyle.

It's probably a half-wise idea.

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