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
Need help with your money?
We are living in challenging economic times.
I want to show you how can you:
To help you, I am running a free training webinar.
3 Steps To Success Money Management!
I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.
Join me online on my free live money management training Wednesday at 8.00PM.
Places are limited, so register now below to avoid disappointment.
https://bit.ly/3QPp8IH
#property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #housepricefall #finance #moneytraining #moneymanagement #wealth #money #buytolet #rentalproperty #leverage OPM
US Silicon Valley Bank Failure, The Largest Bank Collapse Since 2008 Financial Crisis, But UK Media Is Focusing On Gary Lineker
10 Ways To Earn Recurring Income Streams
10 Money Management Tips To Get Control Of Your Finances And Start Building Wealth
Has The Worldwide Property Crash Begun ?
Expert Insight: Gavin Rubenstein Discusses His Approach to Overcoming Anxiety Through Hypnotherapy And NLP
Whitney Houston Discovered That Getting Rich And Staying Rich Are Two Different Skills
House Prices SLUMP Fourth Month In A Row As Mortgage Approvals DROP To 2-Year Low
Toronto Property Market Explained By Luc Lising - One Of Canada's Top Realtors
UK Property Predictions For 2023 - Where Is The Housing And Rental Market Going?
Higher Interest Rates Killing Property and Economy - Rates Rise to Highest Level For 14 Years
36 Rich Habits Followed By Wealthy And Successful People Part Three
36 Rich Habits Followed By Wealthy And Successful People Part Two
36 Rich Habits Followed By Wealthy And Successful People Part One
House Prices Saw Biggest Drop In 14 Years, Halifax Report Reveals
Transfer Property To A Limited Company WITHOUT Paying Capital Gains Tax or Stamp Duty Tax ?
House Prices Suffer Biggest Fall For Two Years
How To Grow Your Online Reviews And Feedback
Rents Rising At Fastest Rate As UK Net Migration SOARS To All-time Record 504,000
BONUS EPISODE: Rents Rising At Fastest Rate In 7 Years As Landlords Face Rising Costs, Red Tape And More Legislation
What Does The UK Autumn Budget Statement Mean For You
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Reaching your Goals
Insights@work
Business Dad
The Ken Coleman Show
The Cardone Zone