How the Rich Use Debt for Financial Freedom | Finance Hacked
----------------------------
FINANCE HACKED team would like to thank the audience for their interest and support of the Channel in the past time. We hope that the content of FINANCE HACKED will bring long-term value to the audience.
All contributions to support the development of the Channel, dear viewers can send to:
- PayPal: https://paypal.me/FinanceHacked
- Wise: https://wise.com/pay/me/hongnguyenphuongd
All ideas or feedback to the Channel, our dear friends can send to:
- Gmail: financehacked@gmail.com.
----------------------------
Tired of hearing that all debt is bad? What if the secret to building massive wealth and achieving financial freedom lies in understanding and using debt intelligently?
In this video, Finance Hacked challenges conventional wisdom and reveals how wealthy individuals, successful nations, and even banks leverage borrowing to multiply assets and generate passive income. We explore the crucial difference between "good debt" and "bad debt," showing you how to identify opportunities to use borrowed money to your advantage, rather than being trapped by it.
Discover why the ability to manage money AND debt is a vital life skill, essential not just for growth but also for navigating unexpected financial crises. We share real-world examples, including a fascinating look at how a successful airline used this principle to acquire hundreds of planes.
Whether you're starting from zero, looking to grow your business, or struggling with existing debt, this video offers a powerful shift in perspective. Learn the strategies the rich use and find out how to apply them to your own life. Plus, we share 6 crucial pieces of advice for anyone facing a debt crisis.
Don't let a fear of borrowing hold you back from your financial potential. This is the valuable information often found in expensive courses, shared with you for free.
If you want to hack your finances, develop a wealthy mindset, and learn how the rich truly manage their money, subscribe to the Finance Hacked channel and turn on notifications!
Watch till the end to understand:
Why borrowing is often necessary for significant wealth creation
The clear distinction between good debt and bad debt
How to leverage good debt to build assets and passive income
Real-world examples of successful debt utilization
6 essential steps if you are struggling with debt
Join our community of aspiring leaders and conquer the world of finance!
#FinancialFreedom #Debt #GoodDebt #BadDebt #PersonalFinance #WealthBuilding #Investing #Entrepreneurship #MoneyMindset #FinancialLiteracy #DebtManagement #FinanceHacked #Borrowing #Assets #PassiveIncome
----------------------------
FINANCE HACKED team would like to thank the audience for their interest and support of the Channel in the past time. We hope that the content of FINANCE HACKED will bring long-term value to the audience.
All contributions to support the development of the Channel, dear viewers can send to:
- PayPal: https://paypal.me/FinanceHacked
- Wise: https://wise.com/pay/me/hongnguyenphuongd
All ideas or feedback to the Channel, our dear friends can send to:
- Gmail: financehacked@gmail.com.
----------------------------
Tired of hearing that all debt is bad? What if the secret to building massive wealth and achieving financial freedom lies in understanding and using debt intelligently?
In this video, Finance Hacked challenges conventional wisdom and reveals how wealthy individuals, successful nations, and even banks leverage borrowing to multiply assets and generate passive income. We explore the crucial difference between "good debt" and "bad debt," showing you how to identify opportunities to use borrowed money to your advantage, rather than being trapped by it.
Discover why the ability to manage money AND debt is a vital life skill, essential not just for growth but also for navigating unexpected financial crises. We share real-world examples, including a fascinating look at how a successful airline used this principle to acquire hundreds of planes.
Whether you're starting from zero, looking to grow your business, or struggling with existing debt, this video offers a powerful shift in perspective. Learn the strategies the rich use and find out how to apply them to your own life. Plus, we share 6 crucial pieces of advice for anyone facing a debt crisis.
Don't let a fear of borrowing hold you back from your financial potential. This is the valuable information often found in expensive courses, shared with you for free.
If you want to hack your finances, develop a wealthy mindset, and learn how the rich truly manage their money, subscribe to the Finance Hacked channel and turn on notifications!
Watch till the end to understand:
Why borrowing is often necessary for significant wealth creation
The clear distinction between good debt and bad debt
How to leverage good debt to build assets and passive income
Real-world examples of successful debt utilization
6 essential steps if you are struggling with debt
Join our community of aspiring leaders and conquer the world of finance!
#FinancialFreedom #Debt #GoodDebt #BadDebt #PersonalFinance #WealthBuilding #Investing #Entrepreneurship #MoneyMindset #FinancialLiteracy #DebtManagement #FinanceHacked #Borrowing #Assets #PassiveIncome
Category
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LearningTranscript
00:00How can you achieve financial freedom from debt if you have 10 friends and each lends you 1 million, you would immediately have 10 million in hand?
00:10Even if you simply use that money to invest at a steady annual interest rate of 5%, you will earn an additional 500,000 in passive income.
00:22Eventually, you can repay your friends the borrowed sum plus a little interest.
00:27It may sound absurd, right?
00:31But let me tell you, this world is filled with countless attractive money-making projects.
00:38In the end, most of them are based on this seemingly reckless principle of borrowing money.
00:44Because the way to make big money is never separated from borrowing money, Finance Hacked Warmke greets you and our dear friends.
00:52Just think about it, can you name a wealthy person who is completely debt-free?
01:00We don't even need to talk about individuals, just look at the nations.
01:05Which country has developed without carrying enormous debts?
01:09Have you noticed that all the rich people or prosperous nations have assets that are proportional to the debts they bear?
01:18The more debt they take on, the wealthier they become.
01:22This means that money and the intelligent use of debt are skills we must learn throughout our lives.
01:28Not only do they help us multiply our assets rapidly, but more importantly, they can save our lives in critical moments if you have never borrowed money or even thought about anyone who might lend you money.
01:44What will you do when your family suddenly needs money for medical treatment and you don't have enough in your pocket?
01:50Do you think that relying solely on your talent will magically make money available?
01:57If you were truly that talented, why isn't your bank account already eight figures in dollars?
02:04Many people say that borrowing money is extremely risky.
02:09But who told you that?
02:11Your teachers or your parents?
02:14A person who has never learned about borrowing debt telling you that borrowing money is very risky is like someone who has never driven saying that driving is extremely dangerous.
02:26All risks in this world stem from a lack of knowledge.
02:31When you try to act before learning, then indeed it's very risky, but today, I am determined to teach my children not only how to drive but also how to borrow money.
02:42Because if you can't drive, even a Ferrari will be useless.
02:48If you don't know how to manage debt, then no matter how huge your family's inheritance might be, it won't mean anything.
02:57From a young age, I was taught that you should neither lend money to others nor borrow money from others.
03:04Therefore, I always thought that debt was merely an expense because you have to pay interest.
03:10More importantly, if a person has nothing, who would be willing to lend them money?
03:18Let alone borrow money, not being in debt at all is a blessing.
03:23Because of that mindset, I always considered myself rather foolish.
03:28I started from zero, built my own business to earn the initial capital, then invested in stocks to expand my funds before venturing into business.
03:38I had never borrowed money, and I never even thought about borrowing.
03:45Because in the book Rich Dad Poor Dad it said that one should buy assets and avoid debt.
03:51At that time, I read the English version and followed it without truly understanding the meaning behind it.
03:59Later, when I re-read the book along with other materials, I realized that I had completely misunderstood it.
04:05The author did not say to avoid all debt, he meant to avoid bad debt and take advantage of good debt.
04:14In that moment, I came to my senses.
04:18Currently, I owe money to the bank and the debt is still growing, but I sleep better than anyone else.
04:24Because I possess many keys to assets, have staff to help me resolve issues, and I am surrounded by many people who care about me, including you.
04:37I have never had anyone chase after me for debt, in fact.
04:42My creditors even wish me greater success.
04:46Learning how to borrow money is a skill that anyone who wants to succeed must have.
04:51In the past, my mindset was constrained by a lack of money and fear, causing me to miss countless opportunities to build wealth.
05:01I don't want my followers to fall into the same trap, lacking financial acumen and the ambition to conquer the world,
05:09so, if you watch this video until the end, you will understand what good debt is.
05:15More importantly, you will know how to leverage good debt to truly achieve financial freedom.
05:22There are courses out there priced at tens of thousands of dollars, but today I will share with you something even more valuable.
05:32Everything I've shared is completely free.
05:34If you don't support me, then if I ever stop doing this, there will be no one left to share these insights.
05:43My channel was created to share a wealthy mindset with aspiring leaders,
05:48helping people invest and understand how the rich really manage their finances.
05:54If you don't want to miss this information, subscribe to my channel and turn on notifications.
06:00From a young age, we were taught that being debt-free means a light burden,
06:06that we must save money, and that entrepreneurship is very risky, but why do most people believe that?
06:14Simply because in the past, to start a business you had to build a factory like Lee Jarching did.
06:21Most people, when they ventured into business, borrowed money from friends or family to build factories.
06:28At that time, everyone thought that if the factory didn't make money, then the debt could not be repaid.
06:41Failing to repay debt would mean creditors come to your door,
06:45and the whole neighborhood would know, it's very embarrassing.
06:50Therefore, everyone concluded that saving money was the only safe approach,
06:54and that entrepreneurship was too impractical.
06:59Ask yourself, when you owe someone money, do you feel uneasy?
07:04When someone owes you money, do you lose sleep over it?
07:08Most people do, and I used to be like that too, but what was the result?
07:14In reality, employees are the creditors to their bosses.
07:19Because employees deposit their money in the bank,
07:22while bosses borrow that money from the bank to start a company.
07:27Then, we use that money to build factories,
07:31hire the very employees who deposited the money to work,
07:34and generate profits.
07:37Once there are profits,
07:39we borrow additional money from the bank to expand and hire more people.
07:43In the end, the profits belong to us,
07:47and the wages paid to employees eventually go back into the banking system and are borrowed by us again.
07:55So, is starting a business risky?
07:58We often see many companies go bankrupt because they have taken on too much debt they cannot repay.
08:04When that happens, the company's assets are liquidated,
08:09and if nothing remains, it must shut down.
08:14But what about the business owner?
08:16They still live in a mansion and drive a supercar.
08:19Since the assets of the company and personal assets are completely separate,
08:25they do not have to pay a single cent,
08:28look at the 2008 financial crisis,
08:31when Lehman Brothers and a host of Wall Street financial companies collapsed,
08:36did you think that their top executives ended up so poor that they had nothing to eat?
08:41The truth is that before the company went bankrupt,
08:45they had already paid themselves huge salaries.
08:49When the company collapsed, they even received massive government bailouts.
08:55So how big is the risk of borrowing money really?
09:00When the financial crisis erupted,
09:03many Americans went bankrupt, some even resorted to jumping off buildings.
09:10But what about the American capitalists?
09:13They remained calm, simply bundling up their bad debts and selling them to other countries,
09:19forcing the whole world to buy their bonds.
09:23In just a short time, the US economy recovered quickly,
09:27becoming even richer than before,
09:30and money from all over the world flowed back into American pockets.
09:35Do you know how much money the US currently owes?
09:39I don't know either, because it's an enormous, incalculable number.
09:44They have borrowed to the point where repayment is almost impossible.
09:50If having too much debt were truly a risk,
09:53then the United States would have collapsed long ago, right?
09:57But now the US still dominates the world.
10:01In the blink of an eye,
10:03they can plunge the entire world into economic recession,
10:07causing all assets to lose value.
10:09So what do they do then?
10:13They raise the value of the US dollars they previously borrowed
10:16and use that money to buy depreciating global assets.
10:21After purchasing them, they expand credit,
10:24push up the value of the assets they purchased,
10:27and further weaken the dollar.
10:30Why do they do this?
10:32Because they are in debt.
10:34Suppose initially they owed $1 billion,
10:38but now with a depreciated dollar,
10:41$2 billion today is only equivalent to $1 billion before.
10:46That means that if they now repay $1 billion,
10:50it is effectively equivalent to only $500 million in the past,
10:54do you understand?
10:56Therefore, every time they print money,
10:59they are essentially issuing more debt,
11:01so why should you avoid debt
11:03when the US Federal Reserve prints money limitlessly?
11:08Why are you so obsessed with saving?
11:11Saving is the biggest con set up by the banks.
11:15Not to mention money loses value.
11:18Just look at the facts.
11:19If you deposit $1 million in the bank,
11:22you only receive $20,000 in interest a year.
11:26But if someone who doesn't understand borrowing
11:29takes $1 million from the bank,
11:31they might end up paying as much as $100,000 in interest.
11:37Most people think that the bank only makes $80,000
11:41from this interest rate gap,
11:43but in reality they earn $480,000.
11:47Why?
11:49Because they use financial leverage.
11:53Simply put,
11:54if you borrow $1 million today to buy a house,
11:57the bank won't give you cash,
11:59instead,
12:00they transfer $1 million into the seller's account.
12:04The seller sees that his account has been credited with $1 million,
12:08hands you the house,
12:10but in reality that money still remains within the banking system.
12:15Only you and the seller have completed the transaction.
12:18Now, suppose the bank performs 50 similar transactions
12:23and collects $100,000 in interest each time.
12:27In total, they earn $5 million
12:29while their cost is just the $20,000 in interest
12:33paid to the original depositors.
12:36This is exactly how banks operate.
12:40They borrow money from people,
12:42pay a little interest,
12:44and then earn millions from the process.
12:46Financial leverage is an essential skill for the wealthy,
12:51the secret that allows us to earn
12:53what others make in a lifetime in just one month.
12:56Why do most people fail to make money?
13:00It's actually similar to trying to lose weight.
13:03When summer comes and you wear a short dress that doesn't fit,
13:08you resolve to lose weight.
13:10But when winter arrives and thick clothes hide everything,
13:15you no longer feel compelled to slim down,
13:18and thus no progress is made.
13:21This cycle repeats year after year
13:23without any proper plan or determination.
13:27The fact that you're watching this video today
13:30means that I want to tell you
13:32that not making money is not acceptable,
13:34and not losing weight is not acceptable either,
13:37because money will continue to lose value
13:40while your weight continues to increase.
13:44But when it comes to making money,
13:45what is the biggest issue?
13:48Suppose you run a business without any customers,
13:51can you bear the consequences?
13:54Rent for the premises,
13:56employee salaries,
13:57cost of goods,
13:59all must be paid.
14:01You have invested your time,
14:03money,
14:04and effort into it.
14:05Is that really worthwhile?
14:08Therefore,
14:09we must borrow.
14:11Who said that having a store in a busy place
14:14means you have to pay high rent?
14:17There is a platform called YouTube
14:19where 2.4 billion people pass through every day,
14:23opening a store there costs nothing.
14:27If even just 10,000 out of those 2.4 billion people
14:31are willing to pay $100 for your product or service,
14:34you will immediately have $1 million.
14:3820 years ago,
14:40we shopped in physical stores or shopping malls.
14:44Now, what do we do?
14:47Everyone shops online.
14:50So why should you embark on entrepreneurship
14:53and seize the opportunity?
14:55Because if you want to make money,
14:57you really don't have many choices.
14:59Most investments and business ventures
15:03have financial barriers.
15:06Either you borrow money
15:07or you borrow time and human attention
15:10and then convert them into money.
15:13You might ask,
15:14but I don't know anything about business,
15:17I know nothing about marketing,
15:19video editing isn't my forte,
15:21and I don't have any special skills or passion.
15:24I don't even want people to know
15:27that I'm secretly making money,
15:29can I really do it?
15:31If you don't know,
15:32then learn,
15:33and importantly,
15:35learn from the right mentor.
15:37It's like how Chao Jing once learned martial arts
15:40from Jiangnao.
15:43Hu was a fool at first,
15:45but after revering Hongxigat
15:46and learning the Jianglong Shiba Zhong,
15:49he became a renowned master.
15:51Therefore,
15:53the teacher you choose
15:54must be someone
15:55who has achieved the results you want,
15:57and,
15:58more importantly,
15:59you must understand what they teach,
16:02so what is good debt
16:03and how can you make money through borrowing?
16:07Listen carefully.
16:09There is an airline
16:10that only had just over $1 million in hand.
16:14For some,
16:15that might be a huge sum,
16:17but for me,
16:18I had that amount
16:19since I was 23 years old.
16:23However,
16:24that company did not stop at that number.
16:27Now,
16:28they own billions,
16:29even tens of billions of dollars,
16:32and I am still studying their model.
16:34With over $1 million,
16:37you really can't buy an airplane,
16:40but thanks to society,
16:42they can mobilize $30 to $40 million,
16:45enough to buy an airplane.
16:47However,
16:48instead of buying immediately,
16:50they take that money to the bank,
16:52deposit half of it to buy two airplanes,
16:55and finance the rest.
16:58Of course,
16:59the bank agrees
17:00because this mechanism
17:01is similar to borrowing money
17:03to buy a house.
17:06If the company can't repay the debt,
17:08the bank will repossess the airplane
17:10and sell it at auction.
17:11As a result,
17:14the airline only needs the money
17:15for one airplane
17:17but ends up acquiring two.
17:20While everyone thinks
17:21that is an excellent strategy,
17:23the company continues
17:24to turn to the bank and investors,
17:27saying,
17:27our airplanes are flying every day
17:30with full capacity.
17:32Each airplane brings in
17:34at least $60,000 daily.
17:36In three years,
17:39we can achieve a profit
17:40of $60 to $70 million.
17:43Then,
17:44they make an offer,
17:46our profits over the next three years
17:48will entirely go to you,
17:50the investors.
17:52All you need to do
17:53is invest $50 million now
17:55and in three years
17:57you will receive $60 to $70 million.
17:59When investors hear
18:02that spending $50 million now
18:05to get back $60 to $70 million
18:07in three years,
18:08isn't that an attractive investment?
18:11Earning an extra $10 or $20 million
18:14is quite stable.
18:17So they agree to invest.
18:20Thanks to that,
18:21the airline immediately
18:22has $50 million in hand.
18:26They then take that money
18:27to the bank to borrow more.
18:29Continuously repeating this process
18:31and using this method
18:33to purchase 200 airplanes.
18:36At the same time,
18:38they pre-sell all the profits
18:39for the next three years
18:41to investors.
18:43This is exactly how capital operates,
18:45first borrowing money
18:47to acquire assets,
18:48then selling the future profits
18:50of those assets
18:51to investors or banks,
18:53but in the end,
18:54those assets still belong to them.
18:57Later,
18:58they use the cash flow
18:59from the business
19:00to gradually repay the bank.
19:03Generally,
19:04when borrowing money,
19:06the longer the repayment period,
19:08the lower the monthly
19:09or yearly payment.
19:11While the principal
19:12still remains yours,
19:14which you can recover
19:15when you sell the asset.
19:18If you don't understand,
19:19you can re-watch
19:20my previous videos,
19:22How Does This Affect Me?
19:23When the housing prices level off,
19:27it only makes it a bit harder
19:29to borrow money
19:29to purchase a house
19:31because collateral assets
19:32are not easily liquidated
19:34by banks,
19:35but in reality,
19:36this does not affect
19:37my real estate investment plan
19:39at all.
19:41Moreover,
19:42as my company continues
19:43to generate income,
19:45market fluctuations
19:47do not impact me.
19:48Some may complain
19:51that in all these years
19:52they haven't been able
19:53to gather enough money
19:54for a deposit
19:55to buy a house.
19:57I always repeat
19:58the same old saying,
20:00in this day and age,
20:01the simplest
20:02and most effective way
20:03to change your fate
20:04is to start a business
20:06on the internet.
20:06And if even that doesn't work,
20:10then what project
20:11could be better?
20:13Today,
20:14even billionaires
20:15are doing it,
20:15people with lower education
20:17than you are making money online,
20:20monks who share
20:20Buddhist teachings online
20:22earn money,
20:23feng shui masters
20:24who give online lectures
20:25earn money,
20:26children singing,
20:28dancing,
20:29playing games,
20:30reviewing toys,
20:31and even people
20:32who act foolishly
20:34or perform comedy
20:35earn money.
20:37Everything can become
20:38creative content.
20:40And if you don't have
20:41enough money
20:42for a house deposit,
20:43what then?
20:44The method remains
20:46the same,
20:47borrow money.
20:49Borrow from your parents,
20:51borrow from your friends,
20:53or even gather some people
20:54to pool their capital together,
20:56sign a contract,
20:58and later just divide
20:59the money based
21:00on the invested capital.
21:02This is why people say
21:04that relationships are money,
21:06ordinary people
21:07cannot operate
21:08on this model.
21:10First,
21:11without collateral,
21:12the bank will not
21:13lend you money,
21:14so you can only turn
21:15to investors
21:16to raise funds.
21:18But sadly,
21:19most people around you
21:20can't even borrow
21:22$10,000 from friends.
21:25And if someone
21:26is willing
21:26to lend you money,
21:28they will only do so
21:29when you face
21:30an emergency
21:30like a medical crisis
21:32or a life-threatening
21:33situation.
21:35And if you say
21:36you want to borrow money
21:37for business investment,
21:39they will immediately
21:40think you are a scammer.
21:41Therefore,
21:44I only associate
21:44with people
21:45who can benefit
21:46my business
21:47and money-making
21:48ventures,
21:49and I gradually
21:49cut off those
21:50who only invite me
21:51to drink or waste
21:53my time.
21:54The internet
21:55is the best place
21:56to connect
21:57with high-status people,
21:59and friends
21:59are like credit cards.
22:02If you don't use them
22:03regularly,
22:04they are not really
22:05your asset.
22:07Suppose your credit card
22:09limit is $100,000.
22:12But you want to buy
22:13something worth $200,000.
22:17When you call the bank
22:18to request a limit increase,
22:20they generally won't agree
22:22unless you already
22:23have a million dollars
22:24in your account
22:25because if you've never
22:26used your card much
22:27and suddenly want
22:28to double your limit,
22:30that's seen as a
22:31very risky move.
22:33What I usually do
22:34is use my credit card
22:36for everyday transactions
22:37and always pay on time.
22:40After about six months
22:42to a year,
22:43I ask for a limit increase.
22:46As the limit
22:47gradually increases,
22:48the bank will proactively
22:50upgrade my card
22:51to platinum
22:52or even black.
22:54Relationships are similar.
22:56I regularly ask friends
22:58for favors,
22:59proactively give gifts
23:00even when I have money.
23:03If there's a project
23:04that requires investment,
23:05I will borrow
23:07from friends
23:08to see how much
23:09they're willing to lend
23:10because I always
23:11repay on time.
23:12Each time I borrow,
23:14I increase my credibility.
23:17Ask yourself,
23:18what is your credit value?
23:21Try borrowing money
23:22from friends
23:23and see how much
23:24they are willing to lend.
23:25That amount
23:26is your credit value.
23:29Reputation
23:29must be nurtured.
23:30I always maintain
23:33relationships
23:33with friends
23:34and investors
23:35to ensure that
23:36whenever an opportunity
23:37arises,
23:38I have enough funds
23:39to seize it.
23:41I also take good care
23:43of my credit limits
23:44at the bank,
23:45so I pay
23:46very low interest rates,
23:48sometimes
23:48even no interest.
23:51This is what
23:51good debt is,
23:53so,
23:53what is bad debt?
23:55It's the way
23:56ordinary people
23:57understand debt.
23:58For example,
24:02you borrow money
24:03to buy a designer bag
24:04as a gift
24:05for your loved one,
24:06not only do you
24:07have to repay the debt,
24:09but you end up
24:09paying off debt
24:10for another woman.
24:13I know many people
24:14are trapped
24:14in a vicious cycle
24:15of bad debt
24:16and feel extremely miserable.
24:19I understand
24:20that feeling.
24:22If you truly
24:23can't repay your debt,
24:24then please listen
24:25carefully to these
24:26six pieces
24:27of advice of mine.
24:29These are methods
24:31to help you recover,
24:32even to the point
24:33where investors
24:34and creditors
24:35will be willing
24:35to lend you money
24:36to help you
24:37restore your finances.
24:40Above all,
24:41I hope that you
24:42don't see debt
24:43as something so serious
24:44that it forces you
24:45to end your life.
24:48Remember the first thing,
24:49don't run away.
24:51Running away
24:52is the stupidest move.
24:55Why?
24:56Because once
24:58you run away,
24:59they will definitely
25:00track you down.
25:02Once they find you,
25:03your fleeing
25:04will be widely publicized,
25:06meaning you cut off
25:07any relationship
25:08with your creditors
25:09and will find it
25:10very hard
25:11to borrow money
25:12from anyone
25:12in the future.
25:15Second,
25:15do not cut off
25:16communication.
25:18If a creditor
25:19calls you,
25:20you must always answer.
25:21If a creditor
25:23wants to meet you,
25:25you must meet them.
25:27Even during holidays,
25:29you should send
25:30your greetings to them
25:31and sincerely express
25:32your best wishes,
25:34don't let them
25:34have to use
25:35forceful measures.
25:37Remember,
25:38all of these actions
25:39are taken
25:40under compulsion.
25:42So,
25:43don't test their patience,
25:45don't say things
25:46without thinking.
25:47If you can do
25:49these things,
25:50you are on the right path,
25:51third,
25:52do not let them
25:53lose trust in you.
25:55You need to let them
25:56know that you are
25:57not avoiding them,
25:58that you are still here,
26:00that they can see
26:00all your assets
26:01and know what you are doing.
26:04Even if you no longer
26:05have anything to sell
26:07or use as collateral,
26:08at least let them see
26:09that you are trying
26:10to change
26:11your current situation.
26:13Your sole goal in life
26:15should be to find
26:16a way to repay them.
26:18If they push you
26:19to the limit,
26:20you will have
26:21nothing left
26:21to repay
26:22and their money
26:23will be lost forever.
26:26Fourth,
26:27take responsibility.
26:29I will not beat
26:30around the bush,
26:31I have only one goal,
26:33to work hard
26:34to earn money
26:35to repay my debt.
26:37And what does
26:38work hard mean?
26:40It means that
26:41I never stop working,
26:43I do not waste money,
26:44I don't buy
26:45new clothes frivolously,
26:46and I consistently
26:48repay a portion
26:49of my debt
26:49every month.
26:52Fifth,
26:52be proactive.
26:55Most people
26:55who are in debt
26:56tend to avoid
26:57communication
26:58and lose contact.
27:00That is the stupidest
27:02action,
27:03pushing yourself
27:03to the brink
27:04and eventually
27:05to the abyss.
27:07But we are people
27:08of integrity,
27:09money can be borrowed,
27:11but reputation
27:11cannot.
27:14If you owe someone,
27:15you must proactively
27:16remind them
27:17of your debt,
27:18make it clear
27:19how much you owe,
27:20what you are doing
27:21to make money
27:21to repay,
27:22and what your plan is.
27:25This makes creditors
27:26feel more at ease
27:28because the people
27:28lending you money
27:29are those who trust you,
27:31those who truly care
27:32about your well-being,
27:34even the ones
27:34who care for
27:35and love you the most.
27:37If you even
27:38turn them into enemies,
27:40then you truly deserve
27:41the consequences.
27:44Sixth,
27:45seek opportunities.
27:47If there is a solid
27:48investment opportunity,
27:50you can always rely
27:51on your reputation
27:52to borrow more money
27:53from your creditors.
27:56Why?
27:58Because if they lend you
27:59more to help you recover,
28:00they not only have the chance
28:02to get their money back
28:03but also to earn profit.
28:06Conversely,
28:07if they do not lend to you,
28:08then that debt
28:09may be lost forever.
28:12Therefore,
28:13don't let yourself
28:14fall into a situation
28:15where no one
28:16is willing to help.
28:18If you corner yourself,
28:20can you really be sure
28:21you will recover
28:22on your own?
28:24Surely,
28:25you will still have to rely
28:27on resources
28:27from others.
28:30Do you understand,
28:31due to time constraints,
28:33I will stop here.
28:35We share free information
28:37on how to become rich,
28:38an entrepreneur,
28:40an investor,
28:41and achieve financial freedom.
28:44If you don't want
28:45to miss out,
28:46please follow our channel,
28:47turn on notifications,
28:49and share this video.
28:51I sincerely wish
28:53that everyone
28:53who supports this video
28:55will soon achieve
28:56financial freedom.
28:58Even if one or two sentences
29:01in this video
29:02benefit your life,
29:04I will feel fulfilled.
29:07Goodbye and see you next time.