One of the barriers to financial freedom is having bad debt.
Bad debt means debt you have incurred but it does not produce income for you.
An example of bad debt is credit card debt. Usually our credit card debts balloon up because of our impulse buying and the lack of budgeting and planning.
One of the first things I have to do to achieve financial freedom is to reduce my credit card debt. It stands today at a significant amount. Manageable but I just don't like the feeling of having too much of debt.
This bad debt of mine stands in the way of financial freedom.
This has to go.
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