Smart Debt Management

Financial Snickens

Feb 8 2024 • 8 mins

Some believe you must spend money to make money, but that doesn’t give business owners free reign to rack up debt for business expenses and still expect to turn a profit.

In this episode, I explore the pros and cons of incurring debt and why a strategic approach to debt management aligned with your business goals is key to sustainability.

In this episode, you’ll also hear:

  • Identifying good debt vs. bad debt
  • Managing debt with intention
  • Creating a realistic repayment plan

Must-listen moments:

[00:01:18] But the difference between a good debt and a bad debt is that a good debt is incurred for strategic investments. That means that you are looking to get debt that is going to make you money, not debt to pay down expenses.