Three speakers argue that using credit cards blocks wealth building. Paying off credit card debt at 15-20% interest is the best guaranteed return you can get. Mark Cuban and Dave Ramsey both emphasize that wealth comes from avoiding debt, not from income.
If you use your credit cards, you do not want to be rich. Anytime you say something about debt, people send it to me. Look at Cuban. Look at what Cuban say. And vice versa. Yeah. So cut up your credit cards. If you use a credit card, you don't want to be rich. Don't want to be rich. Yep. I like that line.
That's a good line. That's my favorite line. I tell it to people all the time. People then, they ask me, well, where's the best place to invest? I said, your best place to invest is to pay off all your credit cards and burn them because your credit card, you know what your return is, right? If you get off, you know, you're paying, 15%, 20% interest. If you pay that down, you just earned 15% or 20%.
Dave Ramsey, Mark Cuban, both of them 100% correct. It's not how much money you make. And many, many, many multimillionaires, billionaires will tell you it's not about how much money you make, how much you save. There's a big difference between debt, credit card, and lending for leverage. Understand the difference between debt and leverage. Give me a call. Like, share, subscribe. Let's get together. We're going to show you how you can become a millionaire inside 12 months. So let's do it.
