RE: LeoThread 2025-02-26 13:37
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I need to spend less than I make. One friend of mine loves to say we should act our wage, and I think that’s smart. It’s not how much I earn but how much I keep.
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Yeah, when you spend less and savings, you have peace of mind because you're not in debt or leaving on loan.
Yes, one of the things I try to avoid is debt. But many have found a way of how to use debt to their advantage
Debt is good when you are leveraging that debt to make more money. But getting into debt to buy stuff that only means more expenses or that will not even last in your life is bad debt.
Well said. But I have to learn how to leverage it wisely. TBH, I have taken loans for investments that burned me later on. So don't know. I had everything planned out pretty well to.
Yeah, it's a good thing to stay out of debt. Those who use it to their advantage won't be in debt because it is assumed that they make more money and they are able to pay back, so it's just for a period of time.
The one that is bad is taking loan to spend on things that don't generate more income.
Actually spending less than you earn gives you financial stability and also enable you to save enough to handle other needs