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Debt?
- Thread starter Monica
- Start date
I get charged interest on the credit card used. Currently in a zero Interest period with this particular card.
If you don't get the balance to zero before the interest kicks will you get charged a bunch of fees?
I believe I just start paying interest on whatever balance I happen to have at the time, so the lower I can get it the less I'll get charged.
Count yourself lucky!
Living with your parents has its perks.
Can't relate.
You better get that balance down then!
Working on it.
So many people don't realize that debt is a tool that should be leveraged.
I leverage a chunk of debt to create eventual profits.
One of my recent real estate endeavors started out at 200k debt but is now an asset (even including the payment of the debt)
I leverage a chunk of debt to create eventual profits.
One of my recent real estate endeavors started out at 200k debt but is now an asset (even including the payment of the debt)
Well yeah real estate can do that but how can you leverage credit card debt to make a profit?
Well, not credit card debt by any means. High-interest debt is the worst kind of debt to owe.
Not to say it isn't sometimes necessary, but if it isn't for sustaining life, medical, necessities, etc., it isn't worth taking.
I'm talking about leveraging no/low-interest debt.
I have a chunk of about $xx,xxx in debt that has no interest, but makes my life better.
Similarly, I have $xxx,xxx in extremely low-interest debt -- so much so that this debt is currently beating the market and inflation.
This debt is also technically creating an additional large asset for me.
Specifically, this was a real estate purchase that is now worth 4x what I leveraged in debt, meaning I own 70% equity in this liability turned asset.
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