“Is it ever okay to take on debt in my business? Should I get a loan? Should I use a credit card in my business?”
A lot of financial gurus will say that any debt is bad, but I don’t believe that to be true. I wouldn’t be where I am today if I hadn’t gone to undergrad and grad school, and in order for me to do that, I needed to take on student loans.
Now, everybody has their own personal opinion on debt, and I’m not judging your decisions. I’m not here to tell you your way is right or wrong. After all, there is a time and a place for debt in your life and in your business.
But regardless of your approach when it comes to making these decisions, one thing’s for sure: WE NEED TO USE BUSINESS LOANS RESPONSIBLY.
In this episode, I share my thoughts on business debt and offer useful tips on how to use debt responsibly in your business.
“Overspending often leads to taking on debt with a false hope that this magical cash influx is going to change your habits and solve all of your problems.” – Stephanie Skryzowski
What you’ll learn in this episode:
- Why debt is not all that bad
- How to tell if you’re ready (or not ready) for business debt
- Things you can do to lower the potential risks that come with business debt
More resources to help improve your finance habits:
- Using Intuition & Numbers to Make Decisions
- How to Build Good Money Habits That Stick
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