This publication is designed to provide competent and reliable information regarding the subject



Download 3,08 Mb.
Pdf ko'rish
bet9/10
Sana12.09.2021
Hajmi3,08 Mb.
#172524
1   2   3   4   5   6   7   8   9   10
Bog'liq
1-good-dept

4. Create or Buy Assets


13

you get some courses and training done, continue to save until your “Pay 

Yourself First” savings can be used to put your education into action.

When I bought my course on real estate, I immediately went out and 

found deals. They were not the deals I invest in today, they were very small 

and they were what I could handle at the time. My mindset was not large 

enough to believe I could invest in huge multi-unit apartments successfully. 

I had to start small and learn the lessons from experience, as well as grow 

my own confidence.

To drive my point home, let me tell you about Ryan: 

Ryan is an employee of mine who decided that he wanted to get out of 

debt completely. He began to pay himself first and pretty quickly he built 

up a nest egg of over three thousand dollars. So what did Ryan do?

Ryan found an entrepreneur class that taught him how to start his own 

online business. He spent his entire “Pay Yourself First” savings on the 

course. When I asked Ryan why he chose this particular course, he gave me 

three reasons:

1. The course was laid out well and, if Ryan did his part, he’d have an

online business up and running at the end of it.

2. After doing some research, he was able to determine the company

offering the course had a good reputation.

3. It was an area of interest for him and he was passionate about it. Plus,

he already had knowledge all things web and marketing.

Today, with a little more money from his “Pay Yourself First” savings, 

Ryan has created his business. He has made an asset from little more than 

a thousand dollars, his mind, and determination.

In less than ten months, Ryan has paid off all of his bad debt. 



14

Step 4: 


Advanced Guide to Getting out of Bad Debt

Remember when I blew your mind that credit cards can be the tool to 

getting out of bad debt? A credit card can be an efficient debt-destroying 

tool through the purchase of education—if you use that newfound 

knowledge to acquire assets.

You can also use a credit card to purchase an asset. It sounds ludicrous 

and dangerous to most people, but you can. If you’re emotionally 

intelligent, educated on your investment, have a solid team, and have a 

plan in place, you can mitigate a lot of your risk exposure.

Another prime example is another Rich Dad employee, Flo. She has 

been working with us for a number of years and has taken various courses. 

Well, she put that knowledge to use and purchased multiple assets with her 

credit card.

In 2008, she bought her first duplex in Buffalo, New York, on a credit 

card. In 2012, she bought another duplex on another credit card. Both 

duplexes have positive cash flow.

Is a credit card my preferred method of financing to acquire assets? 

No. There are many risks to consider. However, much like hard money, 

it is an option and can serve as a bridge-gap until you’re able to get more 

traditional financing in place.

Is that what Flo did? No, she used her education and her ability to find 

opportunities to good use; she bought the duplexes at such great prices that 

she didn’t need to find traditional financing. 

When looking at investments or business, make sure it’s something 

you’re truly passionate about. Once you figure out what that is, get 

educated, put that knowledge to use, and start acquiring your assets.




At this point, you’ve put in some incredible work. It’s not called 

Advanced Guide to Getting Out of Bad Debt for nothing. Now, it’s time to 

start reaping the rewards of what you set out to do: Pay off your bad debt. 

In Freedom from Bad Debt, we recommended that you ignore interest rates 

and attack the smallest balance first. Do that again here. It allows for faster 

wins with each bad debt being erased quicker and with a greater success rate. 

With the Advanced Guide to Getting Out of Bad Debt, you’re now 

attacking your bad debts with an asset that boosts your monthly payments. 

Plus, you now have an asset.

15


Download 3,08 Mb.

Do'stlaringiz bilan baham:
1   2   3   4   5   6   7   8   9   10




Ma'lumotlar bazasi mualliflik huquqi bilan himoyalangan ©hozir.org 2024
ma'muriyatiga murojaat qiling

kiriting | ro'yxatdan o'tish
    Bosh sahifa
юртда тантана
Боғда битган
Бугун юртда
Эшитганлар жилманглар
Эшитмадим деманглар
битган бодомлар
Yangiariq tumani
qitish marakazi
Raqamli texnologiyalar
ilishida muhokamadan
tasdiqqa tavsiya
tavsiya etilgan
iqtisodiyot kafedrasi
steiermarkischen landesregierung
asarlaringizni yuboring
o'zingizning asarlaringizni
Iltimos faqat
faqat o'zingizning
steierm rkischen
landesregierung fachabteilung
rkischen landesregierung
hamshira loyihasi
loyihasi mavsum
faolyatining oqibatlari
asosiy adabiyotlar
fakulteti ahborot
ahborot havfsizligi
havfsizligi kafedrasi
fanidan bo’yicha
fakulteti iqtisodiyot
boshqaruv fakulteti
chiqarishda boshqaruv
ishlab chiqarishda
iqtisodiyot fakultet
multiservis tarmoqlari
fanidan asosiy
Uzbek fanidan
mavzulari potok
asosidagi multiservis
'aliyyil a'ziym
billahil 'aliyyil
illaa billahil
quvvata illaa
falah' deganida
Kompyuter savodxonligi
bo’yicha mustaqil
'alal falah'
Hayya 'alal
'alas soloh
Hayya 'alas
mavsum boyicha


yuklab olish