Dave Ramsey says “Debt is not a tool”

By Randell Tiongson on September 17th, 2009

Many of us grew up with the notion that debt is part of our lives and will always be here to stay. I even here people say that “walang mayaman na walang utang” … obviously, that’s not really true. I know many rich people and most of them have no debts, personal or business.

Here’s what Dave Ramsey says…

“Debt is not a tool!”

Myth: Deb is a tool and should be use to create prosperity.

Truth: Debt adds considerable risk, most often doesn’t bring prosperity, and isn’t used by wealthy people nearly as much as we are led to believe.

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One thought on “Dave Ramsey says “Debt is not a tool””

  • I am not fully convinced that debt is not a tool. As far as finance is concern debt could be use as leverage by some companies, like project financing. You don’t have to use your own money if you are in a business, you use money of others in the form of debt to gain profit for your business. It is called leveraging!!

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Dave Ramsey says “Debt is not a tool”