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Why is credit a powerful tool? |
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Credit is like any other tool and can provide powerful leverage for building wealth. Some of the most famous billionaires have been famously indebted along the way as they acquired massive leverage to build their wealth. Like any powerful tool however, great damage can be done if used improperly. Just as debt can be used to magnify the positive effects of buying assets that generate wealth, they can also magnify the negatives of buying liabilities. So be careful, use credit wisely, and you will find that it can be an excellent tool for wealth building.
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