Is the saying “even rich people have debts” true? How are they able to live through it and still maintain being rich? How do they turn their debts around?
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Is the saying “even rich people have debts” true? How are they able to live through it and still maintain being rich? How do they turn their debts around?
The first thing you should ask yourself is: How do the rich use debts to get richer? The truth is, it may be opposed to the conventional fact, seeing debt as a downward pull on an individual’s finances, but if used and wedged correctly and managed appropriately, debt can allow individuals to make purchases they wouldn’t otherwise be able to, enhancing their returns significantly.
Using debts as a leverage to get rich isn’t just something minute or basic that just anybody can do. You must have been in the business of investing for you to be able to turn your debts into riches. Yes, it’s something rich and wealthy people do. If you plan to turn your debts to riches, I’d like to ask you if you have assets? I mean long term assets that can convert for you at the long run. You need to start form the roots, read and practice. The more you practice, the better you become at handling your finances, investments and debts.