Understanding the Financial System
Nobody likes to talk budgets and spending. It's uncomfortable. Thats probably why so many people suck at it. Especially when it comes to debt and leverage. The argument can, and should, probably be made that if you can't balance a checkbook with $100 in it, no one should give you $1,000. Honestly, the only difference in the two is zero's and zero's are worthless. What's important is the mindset. How do you think and act around your time and money?
I recorded this video to help explain. Basically by using my good credit and available offers, I was able to clear our my student loans and transfer the balance to a 0% "Institutional Private Money Partner" i.e. a credit card.
"No!" "Evil!" "You're Dutch and you'll probably be banned from Heaven for that!"
All very common responses. All from individuals who, based on their mindset are probably right. They cannot handle having and using other peoples money. But that's not the other peoples money's fault. It's the individuals fault.
Eric, my business partner and a great mentor, talked about this at a seminar we recently had the opportunity to teach at. You can hear a clip of his talk at our Redevelop Detroit Podcast.
Check out this video on how I was able to leverage my credit score and consolidate my debt, with existing money partners. It's all about access to capital and cash flow, folks.
The financial system can be complex if we don't understand it. When we do, though, it's just another tool to help us live our lives better and be more effective at what we were created to do. What are some of the ways you've leveraged debt responsibly?