Alex Mwangi’s Post

Finance Word of the Day - Debt Debt is a term used to describe something, usually money, owed by one party to another. It is a common tool used by individuals and companies to make large purchases that may not be affordable otherwise. While it can be helpful in the short term, it's important to remember that debts must be repaid, usually with added interest. Understanding debt is crucial for anyone looking to manage their finances effectively. By knowing the ins and outs of debt, you can make informed decisions about when and how to take on debt, as well as how to pay it off responsibly. Stay tuned for more Finance Words of the Day to help you stay on top of your financial game! #Finance #Debt #FinancialLiteracy

When you want to change your circumstances, you must first change your thinking. Every time you look inside your mail expecting to see a bill, guess what — it'll be there. Each day you go out dreading the bill! You're never expecting anything great. You're thinking debt, you're expecting debt. So debt must show up so you won't think you're crazy. And every day you confirm your thought: Is debt going to be there? Yes, debt's there. Is debt going to be there? Yes, debt's there. Is debt going to be there? Yes, debt's there. Wiry? Because you expected debt to be there. So it showed up, because the law of attraction is always being obedient to your thoughts. Do yourself a favor— expect a check! Expectation is a powerful attractive force, because it draws things to you.

Debt is really misused in America and it’s a shame. Some people leverage debt to buy real estate and they throw in some smart tax strategies. This makes them a lot of money without having to work 8 hrs/day for it. But most people use credit cards to pay for dinners and designer clothes. They lose money by making a bad financial decision and forget about the interest. Nobody is talking about this and the knowledge is mostly hidden. But remember this sentence about debt forever: Banks lend money to people who own or build real estate and to people who start or run businesses. Debt is tax-free money and can be extremely useful. Make sure you follow me if you want to learn how debt works.

Leverage Other people’s money. Aka debt. It's what you buy assets with instead of your own cash. This is how people buy real estate & businesses. Plot twist: debt is a good thing when you're financially literate.

The cure for debt is management. If you manage your money well, and have the different accounts for different purposes, you won't get into debt. Except at extreme cases. Manage your money well. Properly budget your money for different things, live below your means while you increase your income, and do things that won't get you into more debt. Say I hear!

Struggling with high-interest debt? One powerful strategy is the debt snowball method—pay off your smallest debts first to build momentum and motivation. Alternatively, try the debt avalanche method—focus on debts with the highest interest rates to save more on interest over time. Both methods require discipline and a solid plan, so create a budget and stick to it. Track your progress and celebrate milestones to stay motivated. Ready to tackle your debt? Explore these strategies and find the one that works best for you. Start today and take control of your financial future! #DebtRelief #MoneyTips #DebtSnowball #DebtAvalanche

A key advantage to having no personal debt: nobody tells you what to do. If you're really good with debt, you'll maximize cashflow. The problem is most people aren't good with debt. So choose freedom instead.

Here’s a quick and easy way to say goodbye to high-interest-rate debt, save money, and enjoy a more-personalized experience. Check out how you can take control of your debt.

Do you have debt? Choose which to pay off first: 💠 The highest interest debt 💠 The smallest balance One saves more money, the other builds morale and momentum. People needs different things. What works best for you is what matters.