These 4 Debt Rules Make the Rich Richer, and the Poor Poorer

Saturday – February 11, 2023

Welcome to today’s edition of the Dumbass Newsletter! This is day 15 of my attempt to send a daily email newsletter. I’m still on the grind, as they say… Let’s go!!

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The Content

4 Borrowing Rules Rich People Follow but Others Often Don’t

I know what you’re probably thinking… debt is for people who don’t have enough money, right? Well, in some cases, that’s simply not true! Some of the wealthiest people out there use debt to their advantage.

I’m not saying every multi-millionaire success story utilized the exact same financial strategy. But there are definitely certain borrowing rules that the rich tend to follow that set them apart from the rest. These four debt rules are what make the rich, well, richer, and the poor that much poorer. And the question is, could you benefit from following these rules too?

1. Use debt as a tool
2. Make credit cards pay you instead of you paying them
3. Don’t borrow for depreciating assets
4. Make lenders work for your business

For a detailed explanation of each, see the original article on Fool.com here.

The Quote

“Never say, I can’t afford it. Ask yourself, how can I afford it?” ~ Robert Kiyosaki

See more inspirational quotes like this on the Dumb Passive Income Facebook Page

The Humanity

An Arkansas man returned a lost wallet to a grandmother. His kind act sparked an unexpected friendship.

19-year-old, Delivontae Johnson didn’t have to go out of his way to return a lost wallet to its owner and a complete stranger – but he did. That simple act of kindness sparked an unlikely friendship, which includes dining together and even attending church with each other. (Read the full story here)

The History

On this day, in 2012…

Whitney Houston, the legendary Grammy award-winning artist, passed away on February 11, 2012. Her death was a tragedy for the music world, as she was known for her soulful voice and powerful ballads that touched the hearts of millions. Her legacy continues to inspire new generations of artists and her music remains timeless, serving as a reminder of her immense talent and profound impact on the music industry. (Read the full story here)

The Opportunity

HyreCar

Share your car on HyreCar whenever you’re not using it and earn an average of $720 per month! Learn more here.

YouTube TV

I “cut the cable” and switched to YouTube TV recently. I’m loving it! You can try it for $15 OFF if you use my referral link here.

The Participation

Let’s get social!

Feel free to join on the platform of your choice…

• Facebook – follow for daily inspiration and motivation
• Twitter – Matt’s sporadic updates
• Reddit – subReddit for discussions

Do you have any interesting thoughts, ideas, articles, resources, or anything else you think would be appealing for this audience? I’d love to hear about it. Hit Reply to this email or fill out the contact form on the blog.

Thank You for reading today’s newsletter!

Matthew Allen

Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle) 

Matthew Allen

Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle)