Don't Take on Debt to Build Your Prosperity [WARNING]

There is a time and a place for debt. If you are a company with too many orders and not enough working capital then short term debt is beneficial. If you are buying a new house, car or furniture to improve your living standards then debt is a hindrance to prosperity.

Creating cash flow equals prosperity. Assuming debt does not equal prosperity. In the former statement you create value and reap the rewards of your value. In the latter statement you borrow value from someone else to live a level of prosperity you could not live from with your own value creation. Meaning if you had to pay cash for that house or that car you wouldn't be able to do it. You must go to a lender to pay for it.

In this episode we discuss why taking on too much debt keeps you poor. If you are looking to live a certain lifestyle then calculate how much it costs per month to live that lifestyle. Then create cash flows that support that lifestyle.

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