Is Debt Good for You? – Apprentice Millionaire X – Arfeen khan

Debt is also a form of leverage. Debt Can Be a Winner’s Leverage or a Loser’s Leverage.

Money system people respect all forms of leverage and never abuse those powers rather they learn how to use these powers in favor of him.

One of the recognized forms of leverage is the leverage of borrowing money. Today people abuse this powerful form of leverage.

A person who knows how to use debt to acquire assets has superior financial leverage over someone who does not understand how to harness the power of debt. 

In other words, rich used the power of leverage; they did not abuse the power.

 Mr. John said, “The money system people use debt to win financially. The grade system people use debt to lose financially.” But in order to use debt as a vehicle of leverage, a person needs to have more financial education. 

There are two types of debt. There is good debt and bad debt. Good debt makes you rich and bad debt makes you poor.

Most people struggle financially because the power of debt vehicles is used against them. Because of this, many people now fear this form of leverage, saying, “Cut up your credit cards, and get out of debt.”

According to Money system people, “Cutting up your credit cards won’t make you rich. Cutting up your credit cards only makes you miserable.” Today credit card is like a loaded gun that fires with the speed of Internet. If you do not know how to use them, then it is dangerous for you.

Rich become richer because they use the power of debt, deeply in debt with good debt, debt that makes them rich. 

Grade system people often say, “Neither a borrower nor a lender be.” They also say, “Pay off your bills as soon as possible. Pay off your mortgage as soon as possible. Being in debt is risky.” 

Those ideas and beliefs are some of the reasons why the poor work very hard all their life and never get ahead financially while rich work less than poor, and yet they make more and more money. The older they get the richer they become. Their life is different because they know how to harness the power of financial leverage. 

There are infinite forms of leverage once you understand the principles of leverage and begin to look for it. You can find and create many different forms of leverage to help you.

As mentioned, credit card is like a loaded gun. It can help you or it can kill you, regardless of who is handling it. Grade system poor people treat all debt as a way to kill themselves and think it is dangerous, while money system rich people treat it to help themselves and think as a power. This means if you want to get rich quickly, you need to know how to use debt wisely, not your own money.

You can be a millionaire quickly by increasing your good debt rather than trying to get out of debt, while most people are loaded down with bad debt.

This program will train you on how you can use debt in your favor and how much debt is good for you. 

 

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