Join my Money Tips 365 Supporters Club on Spotify: -
https://podcasters.spotify.com/pod/show/charles-kelly/subscribe
Leverage is a term used in business for borrowing money or using debt to buy assets.
Other people’s money (OPM) has been deployed for centuries to help governments and businesses to raise capital, which I’ve written about in my book, Borrow and Grow Rich.
There is a big difference between good debt, which helps you buy assets that produce income, capital growth, and create jobs and bad debt to consumer goods which go down in value.
Can you think of an example of where you have used good debt or leverage to buy an asset like a property?
Have you also used bad debt, such as a credit card, to buy something that you didn’t want to save up for?
How much has that item cost you in interest?
Lessons
Use good debt, leverage and OPM to accelerate your wealth building process.
Avoid credit cards and other bad debt and only use a credit card to pay for things that you can repay in full at the end of the month.
If you have credit card debts, start on a plan to clear the balance as soon as possible, rather than just paying the minimum amount each month.
Join my Money Tips 365 Supporters Club on Spotify: -
https://podcasters.spotify.com/pod/show/charles-kelly/subscribe
How Will The War In Gaza Affect You And Your Finances?
How Will The War In Gaza Affect You?
The Ancient Allure of Gold and Silver: A Comparison with Crypto, Stocks, and Property Investments Part 2
The Ancient Allure of Gold and Silver: A Comparison with Crypto, Stocks, and Property Investments
Buying a house not “that difficult” NatWest Chairman Sir Howard Davies claims!
Buying a house is not “that difficult” NatWest Chairman Sir Howard Davies claims!
7 Things To Make 2024 Your Best Year Ever!
7 Things You Can Do To Make 2024 Your Best Year Ever!
What’s in Store in 2024? Stock Markets, Property and Gold
What’s in Store in 2024? Stock Markets, Property and Gold
Maximize Profits in 2024: How Lower Property Prices and Increased Rents Boost Buy-to-Let Appeal
Maximize Profits in 2024: How Lower Property Prices and Increased Rents Boost Buy-to-Let Appeal
Stock up on CANDLES, Torches and Battery Powered Radios, Dep PM Warns UK
Stock up on CANDLES, Torches and Battery Powered Radios, Dep PM Warns UK
STOP WORKING FOR FREE! - Why Do Small Businesses Work For Nothing?
STOP WORKING FOR FREE! - Why Do Small Businesses Work For Nothing?
UK Fixed Mortgage Rates Drop Below 5% As Inflation Falls to 4.6%
UK Fixed Mortgage Rates Drop Below 5% As Inflation Falls to 4.6%
These 12 Rich Habits Will Make You Wealthy, Guaranteed!
These 12 Rich Habits Will Make You Wealthy, Guaranteed!
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money