Three speakers argue credit cards with 15-20% interest rates are wealth killers. Mark Cuban and Dave Ramsey agree: cut them up and pay off balances. Paying down debt is a guaranteed 15-20% return on your money.
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's tweet. Look at what Cuban said. And vice versa. Yeah. So cut up your credit cards. If you use a credit card, you don't want to be rich.
Yep. I like that line. That's a good line. That's my favorite line. I tell 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.
