Tips & Advice

Is There Such a Thing as Good Debt?

Monday, October 22nd, 2007

I’m sure you’ve heard about good debt vs. bad debt. Supposedly, good debt is the kind that will produce some kind of profit in the future. Bad debt never produces a profit; it only takes a part of your income every month.
But here’s the thing. The idea that debt is “good” is usually based on […]

Popularity: 2% [?]

Debt Reduction in 3 Easy Steps

Saturday, October 20th, 2007

Debt reduction is simple. Basically, you have to create excess cash flow which you can then use to pay down your debt. Here are the three steps to do this:

Stop spending.
Eliminate costs.
Increase income.

Let’s look at each of these in more detail.
First, you have to stop spending so much money. I don’t mean you have to […]

Popularity: 3% [?]

You Can’t Give What You Don’t Have

Friday, October 19th, 2007

A new thought occurred to me recently. That is, you can’t give what you don’t have.
For instance, if you come to my house and ask me for a can of Pepsi, you will be disappointed. I don’t have Pepsi, so I can’t give you any.
I’m sure most people will agree with this simple illustration. But […]

Popularity: 1% [?]

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