Be RICH , know easy money - Debt

There is this piece of information i read about lending and debt. In order to be like a RICH DAD and learn about money, we have to learn how money works on a global level, with respect to nation’s economy and on the personal level too.

I wonder how simple basic concepts have the power to change the financial situation of a person. RICH DAD gives the same concepts in a way everyone can understand. So you don’t have to be a financial analyst to know them.

This is a time where big economies are on a lending spree and developing nations are giving a respectable growth trends. Today a country doesn’t get rich in old ways by getting into wars and attacking weaker nations, they just buy another country’s wealth and debt.

On a more personal scale, many individuals fall prey to the lure of easy credit with credit cards, school loans, and mortgage debt. Once the lenders have you hooked on debt, they're assured of a steady stream of income for years, hoping you never pay it off. And if you default, they may force you into liquidating your assets. Banks and other financial institutes are more than happy to give you easy money.

There is no harm in borrowing money. RICH DAD says, we can not say all debt is bad, because there are situations where borrowing money is crucial for growth, investment and expansion. Without borrowing money or taking a loan we might loose a good opportunity.Good debt is debt that generates income. Bad debt is debt that goes to buy stuff.

To be like a RICH DAD, get yourself out of the bad debt cycle.

Learn more about being a RICH DAD to you success and Financial Freedom..
Your partner in success...
Gagan.