I will be blogging some money myths for this week. Some of us might be living the myth and has led us to financial stress. So hopefully this next series of blogs helps shatter the money myth we've all grown up believing.
MYTH 1: DEBT IS A LEVERAGE WE CAN USE TO OUR ADVANTAGE
Ever experience thinking to yourself to use your credit card so as to give you more time to earn what you don't have when you purchase a certain thing. We thought CREDIT or DEBT is an advantage to us.
TRUTH 1: MOST PEOPLE CAN'T PAY OFF THE DEBT THEY HAVE INCURRED. MOST WEALTHY PEOPLE DON'T GET INTO DEBT.
Debt brings more disadvantages than advantages.
"DEBT BRINGS ON ENOUGH RISK TO OFFSET ANY ADVANTAGE THAT CAN BE GAINED THROUGH LEVERAGE OF DEBT." - DAVE RAMSEY
The rich rule over the poor, and the borrower is servant to the lender. Proverbs 22:7
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