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The Make Money Your Honey Podcast

How do you build a business that is both profitable and enjoyable? Each Tuesday, join Amanda Abella, top sales trainer and business coach for women, as she interviews guests who are making big money, having an impact and having a good time doing it. If you have a business, want to start a business or simply want to build wealth with a no-nonsense approach this podcast is for you.
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Now displaying: Page 1
Sep 22, 2020

There is a time and a place to use debt. Besides buying a home and student loans, debt can constructively be used to make a calculated move in your business.  

 

Let's stop listening to society about debt. Clearly, society doesn't know what it's doing, and that's why so many people have problems. Another false belief is that we think our entire lives revolve around our credit score. Although this is an integral part of your financial life, it's not your whole economic life.

 

What I Learned From Paying Off All My Debt

 

I was the person who would try and pay off all my debt in full every month. However, I didn't leave with myself with enough cash. And let me tell you when shit hits the fan, money is what's king, and cash is what matters. My lesson that I learned is that cash flow is more critical than your debt.

We're taught to pay off debt and to rid yourself of the shame of being in debt. So we use self-inflicted torture, such as eating rice and beans, to save as much money as we can to pay off our debt.

Listen in to find out:

  • The falsehoods society wants you to believe about debt
  • When you should take on more debt
  • How you can cut expenses to pay off debt
  • Collapsing time with debt
  • Why your home shouldn’t be your only debt
  • When you should not take on debt
  • Why you should stop torturing yourself by eating rice and beans

For more information, visit the show notes at https://www.amandaabella.com/your-debt-repayment-plan-is-ass-backward

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