Pesos and Sense Episode 7 (Video) about Managing your Credit cards and Debt

My apologies for uploading late the 7th episode of Pesos and Sense that talked about how you can manage your credit cards and loans properly. It is not bad to have loans since not all loan is bad. But you really have to think twice and classify what kind of debt do you have if you have an existing debt. Robert Kiyosaki explains the two kinds of debt in his bestselling book Rich Dad, Poor Dad: good debt is when you buy things that put money into your pocket like what they called 'business loans' and bad debt is when you buy things that take money away from your pocket like housing loan, car loan, SSS loans and credit cards. 

What kind of debt do you have?
In the first video, David Fabros shared his experience on how he trapped himself on credit cards and made the compound interest his powerful enemy. 


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