Is Debt Bad?

Is Debt Bad?

 

I am starting a new business and need credit to launch it. Isn’t going into debt a bad thing?

 

A growing economy is dependent upon credit and debt. The economy is cyclical, not linear, and is always quite predictable. Once you understand how the economy works, you can be more confident on how to use credit and debt to your business’ advantages.

 

For example: Using credit to go into debt to purchase a luxury item, like a television or a jetski, is not smart, because those items are not productive assets. However, using credit to go into debt to purchase something for production, like a tractor or a computer, is good. Your purchase produces income.

 

We recommend investing 30-minutes to view this excellent video. It does an outstanding job in explaining how debt, credit and the economy work.


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posted: 17 december 2015

 

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