Intelligentsia wrote:Wololo, it sounds as though your take-home pay was not enuff to take you home.
The trick is in not avoiding debt altogether but making sure your debt-load is not so high as to stress you i.e no liquidity and that the debt/loan is invested in income-generating assets (that are preferably the ones actually servicing the debt and not from your payslip).
Otherwise your growth going fwd will be limited to the size of your monthly payslip (actualy take-home amt), and not several times your payslip (coz thats what a loan is). Tough luck if you cant save.
Actualy if you had reasoned the way you are doing now, its unlikely you would be having any of the properties you caim to be owning.
For your info, I am a religious saver; my saving culture is second to none.
With 200 shillings pocket money I was given back in the young days of my high school I managed to raise a small heard of cross breed cows which I conveniently leased to relatives.
I will also not deny that I got a very WELL PAYING job within 2 months after graduating...I have never earned anything less than a 6-Figure salo and thats why I took so much loans and "good debts", even my first car was a brand new second hand from japan bought with a company load at 5% interest!
I just managed to pay all my debts by close of business yesterday, I dont depend on this salo I get and in fact I can loan it to you if you want.
People can get rich either through careful borrowing or by saving and continually investing.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.