6. Avoid DEBT - Deepstash
6. Avoid DEBT

6. Avoid DEBT

The sixth rule is to avoid debt. This means minimizing borrowing and paying off existing debt as quickly as possible. By avoiding high-interest debt and maintaining a strong credit score, individuals can maintain financial flexibility and avoid unnecessary costs.

194

213 reads

CURATED FROM

IDEAS CURATED BY

rdx

Just another homo-sapien

"Rich Dad Poor Dad" is a personal finance book written by Robert Kiyosaki that challenges traditional beliefs about money and investing. The author draws on his experiences growing up with two father figures, one of whom was financially successful, and the other who was not. He teaches readers about the importance of financial education, asset-building, and the differences between assets and liabilities. Kiyosaki shares practical lessons and advice on managing debt, building wealth, and developing financial intelligence.

Similar ideas to 6. Avoid DEBT

2. Debt Awareness:

2. Debt Awareness:

Interest Rates: Comprehend how interest affects loans and credit cards

Credit Score: Learn how financial behaviour impacts your credit history

Avoiding Debt: Practice responsible spending to avoid unnecessary debt.

Debt when you're on a tight budget

There are a couple of paths you can take to pay off your high-interest debt when you're on a tight budget.

  • The snowball method. For those who need to see progress, pay off the lowest balance first. You'll feel inspired to keep going.
  • The avalanche me...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates