Pakdi.net

People always have a wrong concept of polygamous marriage. Polygamy is permissible in Islam. As simple as that. Why people keep ask to prohibit something that is permissible by Allah swt? When it is permissible in Islam, it simply means “harus” but it doesn’t mean wajib or even recommended to all man in this world.

In financial planning too, people have misconception on debt. Debt is permissible. It is not haram. Don’t ever think that debt is something bad. If you have proper knowledge in financial planning or business financing, debt is even recommended. But you must know how to use other’s people money for you financial benefits. Muslim may think debt is bad because of the riba’ issue, but that’s not the topic in this short entry.

The essential things to know before you take any debt, you must learn how to manage a debt, the different between a good debt and a bad debt. People shall know how interest bank works. The yearly, monthly and daily basis interest calculation. Debt is a double edge sword, and if you know how to use it wisely, you’ll become a better investor.

Good debt vs Bad Debt

Basically debt is neutral. It has no good or bad. It is the people himself who make the debt good or bad. If people tend to make more debt to buy liability it is bad debt. But, if people make more debt to buy an asset, it will become a good debt.

Generally, car loans is a bad debt, but if the car is used for your business can it be considered a bad debt? There are certain type of business which your car is a symbol or a business card for your business. The newer & bigger your car, the more confident the client have upon you. The sales has almost been closed just by showing the car. This type of businessperson doesn’t even to think to have a big office or shop.

Debt Management & Cashflow 101

Robert Kiyosaki has created this board game with one rule. You can apply for a loan for your investment from the bank with 10% interest rate. That’s high rate isn’t? But there are a strategy to finish the game by taking a lot of debt (after the risk has been calculated) and the player still can become the first person to get out from the rat race and win the fast track.

Well, for those who think debt is always bad may have to re-think about it again. Or you might wanna join our Cashflow 101 Workshop?

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