Michelle, North Carolina, Twitter discussed on How to Money

How to Money


So here's here's my strategy about talking about first of all it is. There is no such thing as good debt and bad debt. Because we're we screaming additives to something that nobody likes. I mean you you use debt to get somethings that you want like a home. But you don't like it you don't feel good about it. You know when you write that. Check you skipping through the bit that i have to pay this interest on this money. Isn't this glorious. Now you know and on the other side you know bad debt. What is that. it's still just debt. And i try to get people to think about it in a sense of debt. Limit your choices particularly during a crisis. Let's just look at the pandemic and landlords for example. And so i tell you. I talked to a landlord from north carolina. Sweet guy. I did a column on it. And he is a has multiple properties small Not some big conglomerate. But he said that. I told myself that. I wanted property. And that i was gonna make extra payments so that iky pay the properties off as quick as possible so that in the times of trouble. I don't have to press my tenants because they're all good people. He chooses tenants wisely and he said when they are at their lowest. I don't wanna be that. Landlord says get out and he was able to give his tenants breathing. Room at the height of the pandemic Because he didn't have loans on those properties and lots of landlords have properties that they need every dollar of that rent or they're going to go under pretty quickly and and that's that's not a wise use of jet so i just try to get people to get out of debt so that dan win. That next crisis happens at it. Will you as a landlord can be more magnanimous to your tenants. Because you don't have to worry about the mortgage you have to pay then that's not to say that you you you may not be there yet but i hope that you as you strive to be there so that you don't have all that financial pressure you have breathing room so that you can be humane during a time. That was inhumane man. Michelle your generosity of spirit is just come through in this conversation. It's been an absolute pleasure to chat with you so much wisdom and so much humor so thank you so much for joining us. We're working our listeners. Find out more about you and in your new book. Well first of all. I love you. Follow me on twitter. it's at singletary m. that's the platform. I like the most sign up for the washington post and get my columns and newsletter. I have a weekly personal finance newsletter ecorse. There's the book where you can get it all major bookstores independent bookstores. And hey.

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