High-interest debt, such as credit card debt or student loans, can be a major obstacle to building wealth. By avoiding unnecessary borrowing and paying off existing debt as quickly as possible, individuals can maintain financial flexibility and avoid unnecessary costs.
191
134 reads
CURATED FROM
IDEAS CURATED BY
"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 5. The Dangers of Debt
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.
Carrying credit card debt is a great way to negatively compound your net worth. But credit itself is important.
Likely the biggest expense over your lifetime will be interest costs on your mortgage, car loans, student loans, etc. Having a solid credit score can save you tens of tho...
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.
I agree to receive email updates