Finance Friday: How to Use Debt to Build Wealth: Good Debt vs Bad Debt

Debt can be an incredible tool for you to build wealth. The wealthy use it to leverage their money into bigger assets that ultimately produce more wealth for them.

However, there is good debt and bad debt. Most people think of debt as a bad thing and fear debt or want to get out of debt. Wealthy people want to use debt as a tool. 

On today’s episode we explore the difference in mindsets and what good debt is versus bad debt. 

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Timestamps:

• [3:30] Wade's experience with debt.
• [6:27] America's debt.
• [8:46] Spending more than you make.
• [11:06] Credit card debt.
• [13:37] Mortgage. 
• [18:12] What is good debt?

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