Lanny’s Debt Update

Debt.  What is debt?  Is this America’s Horror Story?  Is it chains strapped to your hands and ankles?  Well, by definition, Debt is “An amount of money borrowed by one party from another. Many corporations/individuals use debt as a method for making large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.”  Thanks Investopedia for that.  Debt can be used in two ways – to pay for something that we use day in/day out as a liability that does not generate cash for us OR debt can be used to leverage buying an asset that produces a greater return than the cost of the debt itself.  I have debt and I wanted to share an update where I stand based on today, Mid-April.

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Bert’s Savings Rate Summary: November

My third month of taking the Dividend Diplomats 60% Savings Challenge is officially over.  I am coming off quite the high note in October as I was able to successfully save 63% of my income!  Could I keep the momentum going and achieve the coveted 60% savings ratio once again this month?

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