Debt Can Make You Wealthier

When did you first apply for a loan? At college when you got your first credit card? As soon as you got your first Job? How about when you financed your first car? Or, when you bought your home?

Regardless of when that happened, now, you are in debt and you are feeling overwhelmed. The good news is that you are not alone. Almost everyone in the US have some kind of debt. We all started applying for credit in one way or another, and it made us feel great and powerful. In addition, we all assumed that we would pay it off as soon as we got our job or got the promotion we have been waiting for.

The problem was that maybe you lost your job, became sick, or you took out more credit than you could handle. Taking out debt to pay for things is the way we live in America. Debt can be a good way to achieve our goals. We can finance our education, our car, our home, or anything we want to buy. In business, this is what people call leverage, which is a way of using your resources to take advantage of credit to do more with your money. The only difference is that you were probably in a tough situation that led you to this point. 

I want to be clear with you. There is absolutely nothing wrong with using debt when you use it right and when you have a financial plan to follow. This plan should include your lifestyle, your fixed and variable expenses. Properly designed, your plan should guide you as you make your daily financial decisions. The same way you pay for your daily expenses, you will allocate money to pay your debt. Let me provide some perspective by providing some scenarios to consider.

Your Own Business

Let's say that you take out a $10,000 line of credit to fund a business venture where the monthly payment will be $300. Also, assume that you start doing well with your business and start to bring enough revenues to pay for all the expenses. In this case, you are profitable and you will continue to grow your business. This will be a successful business. Because you leverage your resources, now you are creating a job for you and other employees.

But, what if you did not do well and you had to go out of business. Yes, you will be in debt for $10,000. 

Your Own Home

What if you take those $10,000 and you invest them in buying your own home. To buy the home, you will have to qualify for the loan which requires you to have money for down payment and closing costs. Because you are buying the home, the monthly mortgage, taxes and insurance will make your payment more expensive which will put you in a very tight budget. What would happen if you lose your job and cannot find a job soon enough to avoid foreclosure? You will still owe the $10,000 that you borrowed.

Your Lifestyle

Another example will be that if you took the $10,000 and you spent it partly on a vacation, eating out, and having fun with your loved ones. This interaction will help you improve your relationships. Here you will have to still pay the $10,000 line of credit back.

Your Education

Let's say that you took out a $10,000 student loan to pay for your education. Here, you will have to pay that loan back once you graduate from school. But now, you put yourself in a position to have better job opportunities with higher salaries.

The point of these examples is that taking out a $10,000 loan is not a bad idea because each option enhances your life from the experiences you allow yourself to live. Each alternative provides you with living a lifestyle that helps you grow personally and professionally. As you continue to experience life, you are also creating skills, resourcefulness, and wealth, which will help you later on in your life.

Without this $10,000 loan, you are pretty much stopping to live a life that could bring more happiness and experiences. If you have a job where your salary is going nowhere and do not allow yourself to grow, you will be limiting yourself, not giving enough to your spouse or children, and being stuck financially and emotionally. 

I personally followed the advice that was given to me by a financial expert and led only to unhappy spouse, penny pinching for everything, and being miserable with a mindset of poverty and scarcity. How can you make someone happy with this type of mentality?

There is one aspect of our finances that not too many people talk about, that is God, our creator! Most of the time we make our decisions without making him a part of our decisions. It is for that reason that we fail at accomplishing our goals. Prayer must be a part of every decision you make. God has provided for you all your life and that's also the reason your are still here. God will guide you and give you what you need to succeed in your endeavors.

After realizing what is exactly that God wants from us and made those decisions, God forgave our $400,000 debt we owed. God gave us two state jobs with income of over $200,000 per year, and the ability to have two business that produce good income every year. Not to mention, our relationship with God is solid and very intimate. We know what God wants from us, and we make it happen!

Life is about living a life to its fullest and learning every day. The skills you learn, by trying and trying, will ultimately put you in a situation where you would find the answers to your questions. Through these skills, your future will become more robust, with a lot more options, and full of abundance. God is very generous and is willing to give you more as long as you show him that you are a good steward. If you limit yourself, God will only give you what you ask. You must push yourself to acquire more knowledge and put those experiences to work. The goal should NOT be to become a millionaire. It should be to attain the Kingdom of God. Why settle with just one, two or three millions? God has bigger plans for you. When you limit yourself, you are telling God that that's all you want, and therefore, that's all you are going to get.

To reduce the risk of bankruptcy or divorce, you must increase your wealth every day and follow a holistic financial plan. This plan must help you make good decisions. A lot of advisors will tell you to be debt free and they make you feel that you made very bad decisions. Life is better when you enrich your life with abundance and opportunities. Do not be afraid of debt. Learn how to maximize your resources daily and live your life to its fullest!

Are you ready to make a difference in your life and become a wealthier person so you can enjoy your life? Click on link below to see how 5 minutes of daily planning can change the way you view money…

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You will actually learn this strategy pretty quickly, which will show you how to allocate your money to increase your savings, eliminate debt, and increase your wealth every day. If you follow this advice and apply it, you will achieve all your financial goals. 

I spent 15 years of my life to find out ways to help the average American. All the information I provide to you is free, unless you need special assistance. Go to www.wealthydollar.com to find out more resources that are available to you. You will have enough information to execute your financial plan.