Good Debt Vs. Bad Debt - What Should You Do?

“Debt does not mean you are bad with money, that you don"t know how to do business, that you are not worthy. It is not something to be ashamed of. It"s not something to feel guilty about. It just is.” - Shelagh Cummins Today we’re talking about debt, and the first thing I want to share with you is that it doesn’t need to be a word that brings on feeling of shame or guilt - debt is a tool, and in this episode of The Road To Seven Podcast I’m going to show you how to master it. I’m going to share with you a few examples of what bad debt is, and what can happen if you take on loans with high interest rates, and no opportunity for return on investment, or ROI. I’m also going to share examples from clients that I’ve worked with, who leveraged good debt in order to grow their businesses. No matter what, we all take on some form of debt at some point in our business journey, what’s important to remember is that you take on debt strategically, and you find a way to release the shame and guilt around any debt that you currently have, or will have in the future. In‌ ‌this‌ ‌episode of the Road to Seven podcast,‌ ‌you’ll discover:‌ ‌The difference between good and bad debtThe type  of debt you may take on in order to grow your businessStrategies to pay down debt and let go of the guilt attached to it Highlights:‌ ‌ 00:01 Intro 01:57 An invitation 04:49 Bad debt 09:18 The state of lending today 10:40 Leveraging good debt 13:09 Micro-lending 13:51 Let go of the story attached to your debt Links:‌ To work with me and make your next power move, visit: https://theroadtoseven.com Stay Connected Like what you’re hearing? Click here to follow on Apple Podcasts for more episodes to boost your Road to Seven today! I have more episodes with great tips and conversations with women that are revolutionizing the way we do business - don’t miss it! You can also join the Road To Seven Facebook group to meet other like-minded entrepreneurs who want to band together and help each other rise up. I would be really grateful if you left a review on iTunes so that others can find and boost their business too! Just click here to review, select “Ratings and Reviews” and “Write a Review” I’d also love to hear what your favourite part of this episode is in the comments below. Thank you! Follow me! Instagram: @shelaghcummins Twitter: @shelaghcummins https://facebook.com/ShelaghCummins https://linkedin.com/in/shelaghcummins