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RE: I'm finally debt free after two years of struggle. No more credit cards, overdrafts or loans.

in LeoFinance • 3 years ago

I have three cards but I am avoiding using. Paying everything in cash upfront.

I am not very liquid because almost everything I have is invested so at first I thought the credit cards would be good to allow me to invest and spend now and pay later with the investments.

Terrible idea.

Being debt free is more important.

3 years ago in LeoFinance by
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     3 years ago  

    Thank you for sharing your situation.

    As long as you can understand the fundamental difference between Good debt and BAD debt and make decisions accordingly then you will be fine.

    Good debt has the potential to increase your net worth or enhance your life in an important way. Bad debt involves borrowing money to purchase rapidly depreciating assets or only for the purpose of consumption.

    I would recommend reading this book called Happy Money by Ken Honda to cultivate a good relationship with money.

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