Good Debt Vs. Bad Debt - What Should You Do? Artwork

The Road to Seven

Hosted by Shelagh Cummins, The Road To Seven is the diary of business strategy for women entrepreneurs - we meet you where you’re at in your business and champion you along the road to your vision. Women entrepreneurs are rewriting the rules for business strategy, leadership, success, money and impacting the world. Every. Single. Day.To learn more, visit: TheRoadToSeven.com

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Good Debt Vs. Bad Debt - What Should You Do?

November 14, 2023 • Shelagh Cummins • Episode 189

“Debt does not mean you are bad with money, that you don't know how to do business, that you are not worthy. It is not something to be ashamed of. It's not something to feel guilty about. It just is.”

- Shelagh Cummins

Today we’re talking about debt, and the first thing I want to share with you is that it doesn’t need to be a word that brings on feeling of shame or guilt - debt is a tool, and in this episode of The Road To Seven Podcast I’m going to show you how to master it.

I’m going to share with you a few examples of what bad debt is, and what can happen if you take on loans with high interest rates, and no opportunity for return on investment, or ROI. I’m also going to share examples from clients that I’ve worked with, who leveraged good debt in order to grow their businesses.

No matter what, we all take on some form of debt at some point in our business journey, what’s important to remember is that you take on debt strategically, and you find a way to release the shame and guilt around any debt that you currently have, or will have in the future.

In‌ ‌this‌ ‌episode of the Road to Seven podcast,‌ ‌you’ll discover:‌ ‌

The difference between good and bad debt
The type of debt you may take on in order to grow your business
Strategies to pay down debt and let go of the guilt attached to it

Highlights:‌ ‌

00:01 Intro

01:57 An invitation

04:49 Bad debt

09:18 The state of lending today

10:40 Leveraging good debt

13:09 Micro-lending

13:51 Let go of the story attached to your debt

Links:‌

To work with me and make your next power move, visit:

https://theroadtoseven.com

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