Rich Dad / Robert Kiyosaki Blog

September 23, 2009

Kim Kiyosaki – Pay off that Bad Debt!

Filed under: Debt, Video — Tags: — ~ @ 11:55 am

How Robert & Kim Kiyosaki paid off their Bad Debt!

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May 10, 2009

Kim Kiyosaki – How we got out of Debt

Filed under: Articles, Debt — Tags: — ~ @ 2:26 am

How We Got Out of Bad Debt By Kim Kiyosaki

More and more people are getting swallowed up by debt. I’m sure you’ve read and heard many of the statistics and stories in the news.

One of the keys to financial independence is to get rid of your bad debt and acquire good debt. Bad debt is debt that makes you poor, such as credit card debt, car loans, school loans – this is consumer debt. Good debt is debt you acquire that actually works for you. The best example of good debt is a mortgage loan on a rental property that throws off positive cash flow every month. Good debt is money that you borrow to purchase assets that puts money in your pocket. 

In 1985, Robert and I had a good deal of bad debt. And even though we kept making payments every month, we never seemed to make a dent in the amount of debt we owed.
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