Debts

Getting an expat job, I have been fortunate to have erased my debts. I am happy that I am in a better position and have been paying school fees for my kids and college plans which aren’t from loans which are how I paid them while working on my previous company. Way back, I really hated debts and would use all my physical power to work overtime to pay them early. As I get paid, the next thing in my mind is to pay my loans the soonest.<>

While we are on a trip, I asked Joecy to practice some things I learned (from reading and from the experienced ones) for her business, one of them is asking for [long] term of payment for her dental business which means that we have to borrow from the supplier. This is a very hard thing to do for her as it is to me, but I told her that it is a key to earning a bit more. I told her that she can use the money she has for slow moving items and have the fast moving items be paid after 30 days and just issue a check. I told her that she can earn more if she has more stocks and she can only get it by getting some leverage.

Now that I have gained a lot from Robert Kiyosaki’s writings, I now look for ways to get debts, Joecy reminded me of how I hated debts. I explained to her about the two types of debts which are good and bad debts. Robert explains it simply as good debts makes you rich and bad debts make you poor. In doubt that she listened, I even asked her to repeat what I said which she recited it smiling.

This is just a small deal to make but is very hard for someone like her and me that are inexperienced to this stuff. After much motivation, she promised to ask the supplier on this or any options possible for us to get help.