A lot wealthy people not smart they just use debt

[uswa56]

It is not unusual anymore that there is a situation where is all -round technology, the use of credit cards is very advanced and massively used. They are right, as you say it's better to use other parties' money than your own. But if they are wise, then they will pay in full all the loans that have been made so as not to be exposed to interest, but those who are not wise to use them will actually be increasingly wrapped in the debt that continues to grow.
If smart and intelligent, he will use the facility for purposes that are indeed useful and not actually destroy his life.

Before someone decides to take out a loan, of course they must first have a clear plan with the money they are lending and after they take out the loan they can use it for things that can benefit them, such as developing a business that is already running well, but if they take loans are only for their lifestyle, of course this will be very troublesome for them when they cannot pay off the loans they took out and instead they have to sell the goods they bought with the money they lent.

When going into debt, of course we have to be able to use it for things that we really need and don't let the loan we take get us into trouble because we can't pay it off, of course this will put us in trouble that we should be able to avoid.

[fauzan Ichsan]

It is not unusual anymore that there is a situation where is all -round technology, the use of credit cards is very advanced and massively used. They are right, as you say it's better to use other parties' money than your own. But if they are wise, then they will pay in full all the loans that have been made so as not to be exposed to interest, but those who are not wise to use them will actually be increasingly wrapped in the debt that continues to grow.
If smart and intelligent, he will use the facility for purposes that are indeed useful and not actually destroy his life.

Before someone decides to take out a loan, of course they must first have a clear plan with the money they are lending and after they take out the loan they can use it for things that can benefit them, such as developing a business that is already running well, but if they take loans are only for their lifestyle, of course this will be very troublesome for them when they cannot pay off the loans they took out and instead they have to sell the goods they bought with the money they lent.

When going into debt, of course we have to be able to use it for things that we really need and don't let the loan we take get us into trouble because we can't pay it off, of course this will put us in trouble that we should be able to avoid.

If we are going to take out a loan, of course we take into account that the money will be used for business or for personal use. If it is used for business, then there is the possibility for it to grow and develop, but if it is to cover a lifestyle, then we just have to wait for the time of collapse. In fact, when we borrow money for business, we have to be able to minimize expenses, we have to be careful so that the money is used right on target for business development.

[Mame89]

It is not unusual anymore that there is a situation where is all -round technology, the use of credit cards is very advanced and massively used. They are right, as you say it's better to use other parties' money than your own. But if they are wise, then they will pay in full all the loans that have been made so as not to be exposed to interest, but those who are not wise to use them will actually be increasingly wrapped in the debt that continues to grow.
If smart and intelligent, he will use the facility for purposes that are indeed useful and not actually destroy his life.

Before someone decides to take out a loan, of course they must first have a clear plan with the money they are lending and after they take out the loan they can use it for things that can benefit them, such as developing a business that is already running well, but if they take loans are only for their lifestyle, of course this will be very troublesome for them when they cannot pay off the loans they took out and instead they have to sell the goods they bought with the money they lent.

When going into debt, of course we have to be able to use it for things that we really need and don't let the loan we take get us into trouble because we can't pay it off, of course this will put us in trouble that we should be able to avoid.

If we are going to take out a loan, of course we take into account that the money will be used for business or for personal use. If it is used for business, then there is the possibility for it to grow and develop, but if it is to cover a lifestyle, then we just have to wait for the time of collapse. In fact, when we borrow money for business, we have to be able to minimize expenses, we have to be careful so that the money is used right on target for business development.

This is what differentiates the mindset of rich people, middle class people and poor people when it comes to debt. What is very visible is the way they owe. If rich people are in debt, they take it into account, they go into debt so they can make more money (become productive). Middle class people are in debt to fulfill their daily lives (consumptive). And poor people go into debt to pay more debts (digging holes and filling holes).

Rich people go into debt for the sake of business because they believe that going into debt is a way to add additional income, but it does not rule out the possibility of adding a new business, which in essence means they go into debt so that the money works for them.

If a middle class person goes into debt for a lifestyle, even though he is in business, the goal is so that he has the lifestyle he wants. What I mean is this, usually rich people get into debt for business, middle class people get into debt because of their lifestyle, poor people get into debt to pay off debts. Although not everyone is like this, this mostly happens in everyday life. Debt is actually good if we have the skills to manage it, but if we don't have the skills then debt will have a bad impact on our finances in the future.

[wiss19]

Debt is not something you can just get and get rich though. You need to first have a business, because if you have a business then you get the debt for the business for more income, that means you are going to be able to pay the debt quicker. Let's assume you make shirts, you make 10k shirts, you get debt, buy new machines, you hire new people, and now you make 20k shirts, that's the debt people are talking about.

Plus, a lot of wealthy people have wealthy families, sure some wealthy families have kids that go broke, but most of the rich people in the world today, come from parents that had a lot of money to begin with. That's how wealthy people become wealthy, they just use parents money to start a new business, and then banks money to grow.

[DeathAngel]

Serviceable debt is fine as long as it’s invested in assets that will eventually make you money. For example buying lots of properties & renting them out is fine as your tenant pays the mortgage & eventually you will have a passive income. Taking a loan to buy Bitcoin is fine too as long as you can make the monthly payments.

[lepbagong]

It is not unusual anymore that there is a situation where is all -round technology, the use of credit cards is very advanced and massively used. They are right, as you say it's better to use other parties' money than your own. But if they are wise, then they will pay in full all the loans that have been made so as not to be exposed to interest, but those who are not wise to use them will actually be increasingly wrapped in the debt that continues to grow.
If smart and intelligent, he will use the facility for purposes that are indeed useful and not actually destroy his life.

Before someone decides to take out a loan, of course they must first have a clear plan with the money they are lending and after they take out the loan they can use it for things that can benefit them, such as developing a business that is already running well, but if they take loans are only for their lifestyle, of course this will be very troublesome for them when they cannot pay off the loans they took out and instead they have to sell the goods they bought with the money they lent.

When going into debt, of course we have to be able to use it for things that we really need and don't let the loan we take get us into trouble because we can't pay it off, of course this will put us in trouble that we should be able to avoid.

If we are going to take out a loan, of course we take into account that the money will be used for business or for personal use. If it is used for business, then there is the possibility for it to grow and develop, but if it is to cover a lifestyle, then we just have to wait for the time of collapse. In fact, when we borrow money for business, we have to be able to minimize expenses, we have to be careful so that the money is used right on target for business development.

The name of loan is that it must be returned along with interest, so it must be calculated carefully so that if you want to go into loan you can pay it from a fixed income, not from business profits, because if you are no longer able to pay it, it will result in it not being able to run well.
It is not recommended that loans be used for any expenses other than just business. This is true because loans must be used carefully so that they remain targeted, especially if it is to expand the business, it would be even wiser.

[Fara Chan]

The name of loan is that it must be returned along with interest, so it must be calculated carefully so that if you want to go into loan you can pay it from a fixed income, not from business profits, because if you are no longer able to pay it, it will result in it not being able to run well.
It is not recommended that loans be used for any expenses other than just business. This is true because loans must be used carefully so that they remain targeted, especially if it is to expand the business, it would be even wiser.

Loans that have interest and must be paid on time are loans that have been thought more carefully before being made by anyone, because if they are not considered more carefully, it will certainly have fatal consequences for those who borrow them. So assigning a loan to a business that is already running smoothly is the right thing even if the borrower does not use all the profits to pay the loan at each maturity date. But the basic capital certainly cannot be reduced because this is where the source of income can grow and can be used to pay off all loans that have been taken previously.

[CryptopreneurBrainboss]

This is what differentiates the mindset of rich people, middle class people and poor people when it comes to debt. What is very visible is the way they owe. If rich people are in debt, they take it into account, they go into debt so they can make more money (become productive). Middle class people are in debt to fulfill their daily lives (consumptive). And poor people go into debt to pay more debts (digging holes and filling holes)

This says it all, it's all about the mentality that we have that will determine how far we go in this life especially when it comes to business or wealth decisions. You can't be having a poor man mentality and be doing things like the rich. The rich man buys a yatch/private jet and turns it into a business but the poor /middle class man buys that (if he can afford it) and use it to display his wealth to people that don't care. The poor acts rich to oppress the poor while a rich man doesn't have the time to start proving to you that he is rich. He does things in the way he wants and can choose to behave in anyway he wants because of his mentality

Rich people go into debt for the sake of business because they believe that going into debt is a way to add additional income, but it does not rule out the possibility of adding a new business, which in essence means they go into debt so that the money works for them.

Before someone can use debts to make money, he has to be smart so wealthy people are actually smart and aren't just lucky. It is only a few that are lucky and the wealth don't always last in their hands. Money pays attention to only people that have the power to control it. Using debt to make money is a unique technique that most rich people (that got wealthy through other means) can't understand so you don't call someone that does that a lucky person/not smart because then you'll be lying or just hating.

[Su-asa]

I don't know for you but from my little knowledge about dept. Dept is a risky thing, because when you are a deptor you won't have a mind rest, always your mind will be at trouble because if you can't pay back the dept you owed, more interest will be added to it and that's how it continues to increase if you don't pay back on time. Why I won't agree with you when you said that the rich are not smart but uses dept, is because many of those rich people you see are the ones who can plans and work smart to pay their depth on time or pay the dept late, but at the end they can be able to pay no matter the interest. I think you should respect anyone who didn't come to this world with a silver spoon because it's not easy to upgrade from poor to rich. A rich depor will rather not pay his loan until he achieve that thing he wants with the money he borrowed, and when he has achieved what he wants before he can start paying up his depths and the interest. The reason why the poor deptor haven't achieved what they want with the money they borrowed is because they are afraid that the Interest increase if they don't pay up on time. And because of that they will keep what they want to achieve aside and focus on paying their dept and still end up not paying on time because they didn't achieve what they want.

[erep]

Loans that have interest and must be paid on time are loans that have been thought more carefully before being made by anyone, because if they are not considered more carefully, it will certainly have fatal consequences for those who borrow them. So assigning a loan to a business that is already running smoothly is the right thing even if the borrower does not use all the profits to pay the loan at each maturity date. But the basic capital certainly cannot be reduced because this is where the source of income can grow and can be used to pay off all loans that have been taken previously.

Lenders do not require loans for entrepreneurs but they like borrowers below the average income because the main condition of the loan is that they must provide collateral that can be used as collateral if the loan is not repaid on time, they want the borrower to pay late for the purpose of increasing the loan interest every month, even though it is not all loans are bad ideas but most loan services want higher profits from borrowers who earn below average.

Generally, entrepreneurs are experienced in handling loans and have determined an appropriate business plan to gain profits from loan capital that has been turned into a potential business. However, if you don't have business experience, it is recommended that you don't rush to apply for high loan capital, consider the business risks so that you won't be able to pay the loan if you don't reach your monthly profit target, so it's better to increase your business knowledge by managing a small business without loan capital or starting a business career. from experience working on other people's businesses.

[CK485]

Debt is not something you can just get and get rich though. You need to first have a business, because if you have a business then you get the debt for the business for more income, that means you are going to be able to pay the debt quicker. Let's assume you make shirts, you make 10k shirts, you get debt, buy new machines, you hire new people, and now you make 20k shirts, that's the debt people are talking about.

Plus, a lot of wealthy people have wealthy families, sure some wealthy families have kids that go broke, but most of the rich people in the world today, come from parents that had a lot of money to begin with. That's how wealthy people become wealthy, they just use parents money to start a new business, and then banks money to grow.

in a business sector to be more advanced we definitely need a loan, I think it doesn't matter as long as we are consistent in using it to develop the business and enlarge it. This way we pay the debt in installments and with interest, and we have to take into account that the loan can be burdensome and that is a breakthrough. to advance the business so that it is more advanced, but we have to think again because all of this requires quite a long process.

[mirakal]

Serviceable debt is fine as long as it’s invested in assets that will eventually make you money. For example buying lots of properties & renting them out is fine as your tenant pays the mortgage & eventually you will have a passive income. Taking a loan to buy Bitcoin is fine too as long as you can make the monthly payments.

Taking debt is not something that should be fear of, because as long as you are putting your debt into the right investments, you will definitely have good returns later on. That’s why most of the smart people do not just save and invest, but take loans so they can maximize their investment. Once their investments paid off, aside that they can pay their debt easily, they can also maximize their savings and eventually put it into other investments. That’s how smart people are thinking.

However, it’s still a good reminder not to take debt unless you’re capable to pay. Some investments do no work according to our plan, so it’s best to prepare for it as well.

[tottong]

Often we listen that the rich uses loans to develop a business and it is done with full risk. But the important lessons we get they take loans for things that are far more productive compared to some people only use loans just to fulfill lifestyles.
Now the time has changed and if we don't have money it will be far more difficult to develop a business. For me, taking a loan for positive things is not a problem because it can support the business needs they are running.

To achieve wealth you must dare to take risks and this is done by some rich people. Why are they successful because they dare to take risks and that's why we need to try by considering everything before deciding to do it

[Fortify]

I spoken with my old friend he use to live in nyc around rich people he asked their business most of them said.
That it's debt they borrow money invest real estate buy to lease and sp500 and Even in crypto since many of them use llc options as company investors they not worry about
And they say markets always goes up
So many people just using the borrowed money nothing personal for them it's just game If they win they win If they lose then might be collapse but they are use to that after each crash wall street get bail out.
So a lot people are in high debt and they keep getting to make more debt a lot people using debt to invest.
The real estate prices not coming down so easy because there is a lot buy to lease deals.

You seem confused on a lot of points, like stating people are rich because of their credit scores - that's not how it works. It takes time to accrue a decent credit score and to maintain it you must be a responsible borrower that pays off their debts. In my experience it is only the smartest people that are using credit to their advantage, lots of people go through life trying to borrow as much money as possible and paying extortionate interest rates. If you borrow money at 3% and can make a 6% return, it is literally the same as printing money. This is what people with large amounts of wealth are doing.

[rangga28]

Often we listen that the rich uses loans to develop a business and it is done with full risk. But the important lessons we get they take loans for things that are far more productive compared to some people only use loans just to fulfill lifestyles.
Now the time has changed and if we don't have money it will be far more difficult to develop a business. For me, taking a loan for positive things is not a problem because it can support the business needs they are running.

To achieve wealth you must dare to take risks and this is done by some rich people. Why are they successful because they dare to take risks and that's why we need to try by considering everything before deciding to do it

In business, debt is only normal because they want to increase capital to expand their business network. What becomes confusing is when some people go into debt just for consumption and that should be avoided because it will disrupt household finances if income is not balanced.

Business people have made detailed calculations before applying for credit or taking on debt, they will not be in a hurry because it will have a negative impact on their business. So they are really smart people who are able to manage their business patterns well.

[tygeade]

In business, debt is only normal because they want to increase capital to expand their business network. What becomes confusing is when some people go into debt just for consumption and that should be avoided because it will disrupt household finances if income is not balanced.

Business people have made detailed calculations before applying for credit or taking on debt, they will not be in a hurry because it will have a negative impact on their business. So they are really smart people who are able to manage their business patterns well.

That is how they grow, and make more revenue as well. Debt to grow is something that you must do as a business, if you are not doing it then you are not making the most out of your business, and that means we are talking about something that is getting a bit more limited if you stop growing.

Every single business person would know that you should never be debtless, if you have zero debt then you are doing something wrong. You should at the brink of your last line, so that you grow more and have more revenue. If you do end up getting debt and still not make more revenue then you are doing something wrong, you did not spend that debt on something smart. A lot of companies bankrupt because of this as well, so it is not really a shocker.

[Cookdata]

Debt is not something you can just get and get rich though. You need to first have a business, because if you have a business then you get the debt for the business for more income, that means you are going to be able to pay the debt quicker. Let's assume you make shirts, you make 10k shirts, you get debt, buy new machines, you hire new people, and now you make 20k shirts, that's the debt people are talking about.

Plus, a lot of wealthy people have wealthy families, sure some wealthy families have kids that go broke, but most of the rich people in the world today, come from parents that had a lot of money to begin with. That's how wealthy people become wealthy, they just use parents money to start a new business, and then banks money to grow.

The OP subject looks confusing because I don't understand how you own a business and he thinks it's easy to use debt to fund a business without been smart enough and he thinks that is going to work like a spider man that jump from one roof to another, that's a big lie. Even if you own a company, there is no assurance that banks or any institutional would want to loan you money unless you agreed to their conditions where they will want to see some of the companies receipt and money you generate to know if you can pay back or not.

Businesses are run by smart people who have something upstairs and understand how to compromise situations to always save the business from running into shambles and anytime that will put the business on hold. No companies works on debt without some formalities which must be enough to satisfy a lender, it doesn't work that way. There are some situations that a company history of revenue wouldn't guarantee you anything unless you even have a personal connections or networking.

[TopT3ns]

Often we listen that the rich uses loans to develop a business and it is done with full risk. But the important lessons we get they take loans for things that are far more productive compared to some people only use loans just to fulfill lifestyles.
Now the time has changed and if we don't have money it will be far more difficult to develop a business. For me, taking a loan for positive things is not a problem because it can support the business needs they are running.

To achieve wealth you must dare to take risks and this is done by some rich people. Why are they successful because they dare to take risks and that's why we need to try by considering everything before deciding to do it

In business, debt is only normal because they want to increase capital to expand their business network. What becomes confusing is when some people go into debt just for consumption and that should be avoided because it will disrupt household finances if income is not balanced.

Business people have made detailed calculations before applying for credit or taking on debt, they will not be in a hurry because it will have a negative impact on their business. So they are really smart people who are able to manage their business patterns well.

Many rich people prefer to increase their wealth by taking on debt. In this way they can manipulate the taxes they would otherwise have to pay to become very small because in their record of wealth what they have is debt. A business like this must have very strong calculations and planning and also have very high courage. When we are in debt we have interest to pay so we have to carefully consider the money we have from debt to build a business that is very profitable and has very high demand.

[eightdots]

In business, debt is only normal because they want to increase capital to expand their business network. What becomes confusing is when some people go into debt just for consumption and that should be avoided because it will disrupt household finances if income is not balanced.

Business people have made detailed calculations before applying for credit or taking on debt, they will not be in a hurry because it will have a negative impact on their business. So they are really smart people who are able to manage their business patterns well.

That is how they grow, and make more revenue as well. Debt to grow is something that you must do as a business, if you are not doing it then you are not making the most out of your business, and that means we are talking about something that is getting a bit more limited if you stop growing.

Every single business person would know that you should never be debtless, if you have zero debt then you are doing something wrong. You should at the brink of your last line, so that you grow more and have more revenue. If you do end up getting debt and still not make more revenue then you are doing something wrong, you did not spend that debt on something smart. A lot of companies bankrupt because of this as well, so it is not really a shocker.

Businessmen usually act according to a plan. This plan prevents them from making mistakes. They have experience in the market or in any business and this experience enables them to do successful business.

Borrowing is always helpful when done right. In order to grow further and generate income, it is necessary to make the best use of resources, that is, to be on the verge of limits. This is not always the case, so there are exceptions. Borrowing is also a risk, but if it is used well, it helps a lot.

[Gladitorcomeback]

Often we listen that the rich uses loans to develop a business and it is done with full risk. But the important lessons we get they take loans for things that are far more productive compared to some people only use loans just to fulfill lifestyles.

That's the point, we can't say that wealthy people are not smart but they just use debt because you can't use debt in a good way if you are not smart. Only people who are smart and have sharp minds can take loans and use those loans in the best way possible so that they can generate way more money than they have borrowed and repay the loan with interest before the repayment date, that is how you build your credit score and get bigger loans next time and rich people do that exactly.

Those who are not smart can't become rich because even if they take loans and debts, they won't be able to use the money in a good way to start businesses or expand existing businesses so that they can get revenue enough to repay the loans and have good credit score for future endeavors.