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Financial Freedom - Debt Free or Debt Control?

7 December 2005 No Comment

‘What is your choice? Debt Free or Debt Control?

Confuse? Don’t know what to choose? If you confuse and don’t know what to choose, why don’t hear my personal choice and make it as a reference for you.

My choice definitely is DEBT CONTROL. Why? Why I choose this answer?
I also hate debts. It is an evil and gives a lot of trouble to me. But because of I hate it, so I want to take control on it. (Yes, my revenge on debt, haha!) Since I help my mentor to manage his business, I meet a lot of people. Some of them is not only financial free but RICH. When I have a chance to sit down and chat with them, I found that, they also have debts! After I asked my mentor, he just asked me 1 question:

Which one is faster to get 1 million dollars? Get a loan from Bank or Save it?

What is your answer? I think the answer is quite clear. Get a loan from Bank is faster. This is the reason why rich people also have debts. But the main point here is they know how to deal with debts. Instead of being a knife that can hurt them, rich people make it as a knife that becomes their weapons, weapons to make money!

Since we are in debt, why don’t we make money from it? This is the mindset of rich people. They get debts to make money but normal people get debts to pay money (Pay money to others). We must improve our financial literacy to train up our brains and eyes to see what is good debt and bad debt. I prefer to learn it since it can make money for me, so how about you?

Coming up next : Good Debt VS Bad Debt, So stay tune!