The Iron Law of Wealth Building (or How to Translate Personal Financial Statements into Results) RPF0029
Radical Personal Finance
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Why Do We Pay Off Consumer Debt?
People intuitively using this formula when they're making the college decision. We pay off consumer debt to free up cash flow and save on interest expense. As long as we have the consumer debt, we have assets that are going down in value. That's not working. So we need to build a surplus up.
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