Debt Cures by Kevin Trudeau – Book Reviews of Chapter Twenty Two – Building More Wealth
April 6th, 2008 | by admin |Did you realize that eliminating debt is the same as creating wealth? Kevin Trudeau says it is true in chapter 22 of Debt Cures entitled “Building More Wealth.” So as you are following his steps in erasing your debt, you are able to reduce the amount of interest you pay each month. You are creating wealth as you build equity in your home. Little steps over time add up to great distance, and the savings you are making today can add up to wealth tomorrow.
Trudeau says the ability to borrow is power. It used to be the banks had all the power, but you have been able to turn that around and now that power is yours. Also, learn to invest wisely. Not necessarily in stocks and real estate, but Trudeau says to invest wisely in common things. Choose your shoes and clothes wisely, invest in items that will last.
A tactic to protect your wealth is to create your own corporation. It sounds difficult but it is not according to Trudeau. He explains in Debt Cures how to create a corporation. In most states all you have to do is invest your time in filling out documents. The tax savings and legal protection may be more than you first think.
Be creative and imaginative when creating a corporation. Wouldn’t this be the best time to start your own business? You are out of debt, you have good credit, you want to live your lifestyle not someone else’s so why not become your own boss? If you have a hobby or a skill that you enjoy and are good at, why not see if you can make money at it? If you make crafts on the side, why not look into making and selling them part-time? Make sure you are filling a demand not just doing something you like. Don’t buy items cheaply that you think you can sell on EBay, without checking it out first and making sure you can sell them at a profit. Always do some research first to make sure you are doing the right thing.
One advantage to opening your own business and corporation is that it opens your world to cheaper and better credit. Trudeau says that business credit cards almost always have better terms than personal cards. Also you will start out with a good credit score as a business. Any problems with past credit won’t be looked at on your business account. It is like working with a clean slate.
When you are ready to begin your business don’t be afraid to borrow. By now you know what you need to do to stay out of debt, use them but make sure you get the money you need to be successful. If you own your own home you can secure a home equity home. You may have to find someone with good credit to co-sign a loan. Trudeau shows how you can get $10,000 or more as quickly as a day’s time. Use money to create more money.
Trudeau says successful people see a need, jump at the opportunity and fill the need, and make money doing it. You can do the same, if you have conquered your debt then you have what it takes to start and run your own business. You are a winner, step out and do it.
