Finance Friday: How to Use Debt to Build Wealth: Good Debt vs Bad Debt
Debt can be an incredible tool for you to build wealth. The wealthy use it to leverage their money into bigger assets that ultimately produce more wealth for them.However, there is good debt and bad debt. Most people think of debt as a bad thing and fear debt or want to get out of debt. Wealthy people want to use debt as a tool. On today’s episode we explore the difference in mindsets and what good debt is versus bad debt. If you are financially stable here is in my opinion the best personal credit card. It gives all sorts of cash back and travel benefits and you get 75,000 miles when you spend $4k in your first 3 months. Be sure to pay it off, but when you do that is equivalent to a ~$750 flight credit!Get your Capital One Venture Card here: https://capital.one/3PelPbNAlso mentioned on today’s episode, the best coffee in the game. Use this link to get $25 off your first order: https://cometeer.com/r/4Ivpm8GO CPA Tax Planning:Are you a multi six figure business owner looking to level up your accounting and reduce your tax liability? Head over to https://www.gotaxplanning.com/magnetic/taxTimestamps:[3:30] Wade's experience with debt.[6:27] America's debt.[8:46] Spending more than you make.[11:06] Credit card debt.[13:37] Mortgage. [18:12] What is good debt?--Let's Connect!To get more info and updates on the podcast@gettingmagneticFollow our personal Instagram accounts@sandyclaus7@wellnesswithwadeCheck out our website for all things Getting Magnetichttps://www.sandyandwade.com/