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The Biggest misconception about borrowing is that you are poor, Debt is a strategy to get more money- CEO PawnshopByBluradish

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Oyindamola🙄

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Fellow compatriots, it is important that we get involved at least by keenly following what is happening in our Country. High appetite of debt will definitely hurt our economy in the future. Our economy cannot afford to borrow Ksh 1.25 Trillion per year. Did you know that the new Fund is 90% about borrowing more off the book? We are African and Africa is our Business..
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Dave Ramsey was asked a simple hypothetical. Would you take a billion dollars at 0% interest for 10 years? He said no. Not because the math was bad. Because he does not borrow money. Period. No exceptions. And that is the problem. There is a difference between bad debt and good debt. Bad debt costs you money. Good debt makes you money. A loan covered by tenants is not a liability. It is a wealth building machine that someone else is paying off for you. Refusing all debt does not protect you. It just keeps you from building anything. The question is never whether to use debt. The question is whether the debt is covered.
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