Good debt or Bad debt!

Is Debt good or bad?! Let’s find out…

…you’ve heard that question before right? I’ve been asked that question over a hundred times and this has always been my reply.

I believe debt is good…but for some reasons, it can be really bad that it can lead your business into a tailspin, can cause you to be jailed or you too can massively lose property!!!

While debt can give you so much leverage in expanding your business or your means, it must be noted that debt however small it is, must be handled with utmost care. I always say debt is like tending to an occupied beehive, when handled well, you shall surely reap alot of honey…but when handled poorly, you’ll be stung by the bees😁.

Good debt to me is debt that brings you positive cash flow every month as you service it. And most times, I say good debt is one which someone else pays for you. Buy someone else, I mean your businesses or assets.

Its unfortunate that many millennials today use debt to support their ‘look rich’ lifestyle that they are so entangled with bad debt that they have to get a debt to offset another one. This makes you a slave!

Always remember that debt can make you so rich and on the other hand, it can also make you a very poor slave so you gotta handle all your debt well so that it can work positively for you.

In conclusion, I’d suggest that all debt is good, it’s either you or me that makes it bad.

Please leave a comment. Thank you for reading.