Omar Zenhom argues that debt is a trap for people starting out, despite what financial gurus like Robert Kiyosaki and Grant Cardone claim. He warns against borrowing to fund ventures and says to build a real cash-generating business first, then save before you spend.
There's a group of financial gurus, people like Robert Kiyosaki, Grant Cardone, that have convinced an entire generation that debt is a good thing, that debt is acceptable, that it's actually sophisticated. I believed it. I lived it. I was in debt and I seriously paid for it. Debt is not a wealth-building tool for people starting out. Debt is actually a trap dressed up in a suit. So you really need to be careful because this is very dangerous advice. You don't need to borrow massive amount of money to build something real. You need a business that makes real money and also the discipline to save the money before you start spending it. Okay? So when you want to start something new, try to save it.
