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
Do This, And Everything Will Change For You
House Prices Fall Again As Interest Rise For Fourteenth Time
House Prices Fall Again As Interest Rise For Fourteenth Time
STOP The War On Buy-to-Let Landlords
STOP The War On Landlords
Commercial Mortgage Market Opportunities Beyond Buy-to-Let Property
Landlords Can Double Their Rental Income On Buy-to-Let Property
Landlords Can Double Their Rental Income On Buy-to-Let Property
Banks Slammed On Low Savings Rates
Banks Slammed On Poor Savings Rates
The Best Mortgage Deals and Rates Following BoE Base Rate Hike
Best Mortgage Deals Following BoE Base Rate Hike
MORE Pain For Housing Market As Interest Rates Rise 0.5% To 5% With More Hikes To Come From Bank Of England To Curb Inflation
MORE Pain For Housing Market As Interest Rates Rise 0.5% To 5% WIth More Hikes To Come From Bank Of England To Curb Inflation
Housing Market In Deep Trouble - Interest Rates And Bond Yields Rising, Buy-to-Let Properties No Longer Work
Housing Market In Deep Trouble - Interest Rates And Bond Yields Rising, Buy-to-Let Properties No Longer Viable
Mortgage Update On Interest Rates, Adverse Credit And Apartment Blocks With Cladding
Mortgage Update On Interest Rates, Adverse Credit And Apartment Blocks With Cladding
Inflation Falls Below 10% As Interest Rate Rises Start To Hurt The Economy And Consumers
Inflation Falls Below 10% As Interest Rate Rises Start To Hurt The Economy And Consumers
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money