Wealth Creation: Debt Into Wealth

The idea of creating wealth can be hard for some people who are even just trying to get out of debt. You can use the same principles that will get you out of debt and use them to catapult you into wealth.

For many people the idea of creating wealth in their lifetime seems almost impossible. For these people most likely have large amounts of debt, credit card debt. So how can we start to see our way out of debt and into wealth?

The way most people teach to get out of debt is to first get an accurate statement of your current net worth. This can be easily done using credit card and bank statements. Once you realize how much debt you have, determine how much extra you have each week to spend paying down your debts.

For most people finding this extra money just to pay down the debt seems almost impossible, and this is the basic reason why most people never get out of debt.

{The best way to build wealth is with Multiple Streams of Income}

This is why you need to create extra cash or income. By creating extra cash every week you can get yourself out of debt and catapult yourself into wealth even faster then you thought of.

Most people try to get ahead by trying to save what little they have each month. What you really need to really create wealth is an extra income of cash.
Once you have paid down your debt, use that extra money to invest in assets. Once you get enough assets producing enough cash flow your money needs are taken care of forever.

Best Wishes,

Luke