Bifalgorithm post

For example, let's say you want to buy a house, but you don't have enough money to pay for it, so you go to a bank. The bank says, "Okay, we'll give you the money to debt. You can pay us back later." Sounds pretty good, right? But of course, the bank isn't giving you the money for free. When you pay it back, you also have to pay a little extra. That extra money is called interest. The bank is basically saying, "You can use our money today, but you'll pay us a small fee for borrowing." And honestly, that's why most of us grow up thinking debt is a bad thing. people are scared of debt. But here's the important part. Debt itself isn't good and it isn't bad. It's just a tool, not like a kitchen knife. You can use it to cook dinner or you can seriously hurt yourself. The knife isn't the problem. How you use it is. That's what matters and debt works exactly the same way. So before we talk about how rich people use debt to build wealth, we need to understand two types of debt. Good debt and bad debt. Let's start with the bad one.

For example, let's say you want to buy a house, but you don't have enough money to pay for it, so you go to a bank. The bank says, "Okay, we'll give you the mo…