There are "financial experts" who advise people to take out their
credits cards and cut them up. And that may be a good plan for someone
who is financially irresponsible, it's not great advice for someone who
wants to build wealth and become financially free. Cutting up your
credit cards won't make you rich; learning to leverage and manage debt
will.
If a person has a solid financial education they will know that there
are two kinds of debt: good debt and bad debt. A person who understands
debt will know how to use good debt to make them richer faster. And when
we take control and learn to manage bad debt, seeing it for what it is
and understanding the toll it can take if abused, we are on the road to
financial freedom.
Learn how to make your money work hard for you... instead of you working
hard for money all your life. Understanding debt and how to use and
leverage it is an important first step.