Do you or someone you know is dealing with a mountain of debt?
Paying off your Debt is Key #3 to regain control over your money!
Here’s the NAKED TRUTH:
You either MASTER your Money OR get MASTERED by MONEY.
When you accumulate Consumer DEBT, YOU get MASTERED BY MONEY!
It’s that simple.
For many people, debt becomes an addiction. Just like with drugs, getting into debt is as easy as popping a pill. And getting out of debt is just as difficult as getting rid of a drug addiction.
Consumer Debt is a form of financial addiction.
It’s the way banks and credit card companies make profit by charging you insane interest rates and getting the compound interest.
Did you know there were no credit cards until 1946 and as late as 1970 only 15% of Americans had one?
Today credit card companies send out billions of new offers each year!
The debt addiction enslaved millions of people to their lender.
Whether it’s a credit card, car loan, student loan or even a mortgage – debt has gotten out of hand for millions and millions of people!
Consumer Debt is a poison for your financial success.
You can’t leap ahead because it’s constantly chasing you down.
Consumer Debt is a poison in your personal life. It breaks you down, destroys you dreams, destroys your health, decimates your family, and leaves you broke.
It truly causes havoc in your life.
And even if you don’t have a mountain of debt right now, I want you to realize the enormity of debt addiction in people of all walks of life.
You must be wide awake if one day you face a dilemma about using Credit cards or other consumer loans to pay for something you want but don’t have money in the bank to pay for… AT THIS MOMENT.
All debt is NOT created equal.
Wise Debut and Unwise Debt
I divide debt into 2 categories: WISE Debt and UNWISE Debt.
WISE Debt: borrowing to invest in APPRECIATING asset.
Wise Debt is often referred to as Financial Leverage.
UNWISE Debt: Borrowing for Depreciating Items
Unwise Debt is also known as Consumer Debt.
The Bottom line: ANY DEBT = RISK.
In most occasions Consumer Debt is unnecessary and often dangerous.
It’s unnecessary because there are usually gradual and less expensive ways to get what you want.
It is dangerous because it often becomes a downward spiral, a ‘catch 22’ that ruins your health, your relationships and your overall wellbeing.
And here you have the key #3 to regain control over your money.
To your Health, Wealth and Freedom!
If you want more resources on various financial topics, sign up for my YouTube channel Millen Livis Channel Wealth
And for additional support, I invite you to join my Wealth Building for Powerful Women Facebook group.
