Brad HartI help 7-8 figure entrepreneurs scale faster with AI, masterminds, and results-driven systems | Founder of Optimus & Repurposefully

How Did I Know You Have Bad Debt #makemoremarbles #mastermind #baddebt #financialliteracy #moneytips

Name: How Did I Know You Have Bad Debt #makemoremarbles #mastermind #baddebt #financialliteracy #moneytips
Uploaded: 2022-11-09T20:09:37+00:00
Duration: 40 s
Channel: Brad Hart
Description: Brad Hart explains the difference between bad debt and good debt, or leverage. Borrowing works when it generates returns bigger than the loan cost: 5x…

9 Nov 2022 · 1 min

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0:40

Brad Hart explains the difference between bad debt and good debt, or leverage. Borrowing works when it generates returns bigger than the loan cost: 5x, 10x, 20x returns. Credit cards aren't evil if you use them right.

Chapters

I bet you have bad debt, not good debt. So what am I talking about here? Let's just say I got a million dollar loan. Oh my gosh. You moved the bank a million dollars. That's bad debt. Sure, that's true. But the thinking is wrong. What happens when you put that million towards a project that could make you 5 million or 10 million or 20 million? That's called good debt. And the other term we use for it is leverage. So I encourage you to untangle and unpack what you're thinking about debt. And that it's always a bad thing, and that credit cards are always bad. They're actually extremely useful when used right with responsibility and when you're armed with the right knowledge and proper leveraging tools for opportunities. So play smart, educate yourself, follow me, and I'll help you with both.