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When it comes to the flashy, material items.... There is people who can afford them, and there is people who want to look like they can afford them.

For me..There is two types of DEBT. There is great debt, and evil debt.


Great debt provides you cash-flows or appreciation opportunity. IT MAKES YOU MORE MONEY!

Evil debt is well... the opposite. Evil debt is debt held into liabilities that actually cost you more money. 
It's the flashy car that one couldn't afford to pay cash on. (I'm not saying you should pay cash even if you can afford to)

To get to my point....the difference is rather simple. 

John buys a new car because he got a raise at his job..That's an EVIL debt.

Joe is much smarter and buys a rental property with his new raise... He then uses the cash-flows from that property to cover his expenses every month.

By no means am I a financial advisory. I'm just the guy who understands how financial awareness can set you free. 

What are your thoughts on this topic? Do you think one should just enjoy their credit and buy that new car because they CAN? Or should we be teaching and promoting financial literacy?

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