Good morning! Today I’m going to talk a little about debt.
I was inspired to mention this topic by something that I overheard at work. A small business owner applied for a business loan, and was denied due to a FICO score of around 500.
Building wealth while racking up a large amount of credit card debt, defaulting on loans, and the like is very difficult, if not impossible to do.
Remember: debt is the enemy of wealth.
I listen to a podcast about financial planning. The host was talking about a couple he knows that has an annual income of $1,000,000. They have a net worth, though, of -$200,000.
How could that be?
If you’re in trouble with debt, take steps to get out today.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)