Mmm.. Debt is bad – mkay. Well actually not all debt is bad – there is good debt and bad debt. Good debt is used to increase assets under your control, it is a form of leverage to increase your buying power. Bad debt is used to make purchases – things you may not even remember buying. There is nothing to show for bad debt.
We will be beginning a series of articles on debt very shortly.
In the meantime we are working with two potential vendors, and will share these with you soon. One is a prepaid credit card that has very low fees… The other is a traditional credit card that has good benefits if you have the discipline to manage it. It is still good to have the flexibility of having a credit card, just not the dependency on it.
We will keep you posted on these cards…