Today, while on Instagram, I got to read someone's comment but not until I started writing right now that I realise that I didn't save the comment.
It's related to my yesterday's post on the first rule of money "money is knowledge." The comment read, I'd rather sit with Jay Z than collect $500k with reasons being that the knowledge from the billionaire would be long term rather than the $500k, regardless, I'd surely sit with the billionaire, why?
Knowledge is power.
The second rule from Robert Kiyosaki's Rich Dad Poor Dad book is " learn how to use debt."
Even as I write the word debt scares the shit out of me, but there's certainly the good debt and the bad debt, I guess you didn't know that and sure knowledge is all we need.
For the past 5 years, I've spent 70% of my time on Instagram watching cars because I'm an avid lover of exotic cars who has none in his unbuilt garage, lmao. The truth is those men and women who own those cars make money work for them.
Not to derail from debt, there's a common practice to get cash from someone who is willing to lend the amount required, then what's the money used for?
Have you ever heard a millionaire or billionaire say they didn't use their money to do this or that?
Yes, no, whatever it is, I'm certain I've heard that a lot of time.
Anyway I recall starting a farm (catfish farm) not with my money also, am I a billionaire or millionaire? Certainly not today, lol.
We just have to start somewhere and let the process have its effect and keep on building gradually
The goal of money making is not for today but for the future, the bigger picture.
Now present on hive, there's still a lot of inspiration out here, there are numerous people I'd like to give a shout to but we'd have to stay calm until the big reveal is made.
Imagine borrowing money to buy a pair of new shoes to be repaid when the paycheck comes in - bad debt, also borrowing money to buy a cryptocurrency probably hive - good debt.
Question is, what's the difference between the two?
First off, when the new pair of shoes is bought, its value has depreciated and can't be sold same amount and fashion trend is always changing and one truth is the more money you keep would determine how rich you are.
Society has taught us unconsciously that the one that looks better, I'm yes of putting on the latest is the one on top.
That's far from the truth,because the rules of money don't work based on the majority mindset.
Buying hive on the other hand would-be a better option if you agree or not lol, I certainly think you'd agree because the value would appreciate over a period time in the short and long run.
So the best option is using debt to buy assets rather than liabilities.
Liabilities are often mistaken as assets, for me, anything that affects my peace of mind is invariably a liability.
So, the best way debt should be used - good debt or bad debt, the ball is in your court just be willing to play at all times.
