Think Big Financial Financial Group

Did you know that there is good debt and bad debt. Here is the difference.

Bad debt comes in the form of borrowing money for liabilities such as using credit cards to buy smart phone or luxury items, which cause your money flowing out of your pocket to pay debt.

Good debt is debt used to purchase assets like rental property. For example, When you use the bank’s money to purchase real estate, you will use less of your own money to pay down payment to secure an asset instead of full price, and your tenant’s rent pays off your debt while you own the asset and pocket the profit for cash flow.

governments give exempted tax codes to encourage specific types of investment. Such as: affordable housing, oil exploration etc. The secret is that most tax benefits are made to help entrepreneurs and investors. With the right financial education, you too can utilise the tax code to not only get richer, but also pay nothing in taxes.
Hope this help.
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