Poor dad avoids debt from "summary" of Rich Dad Poor Dad by Robert T Kiyosaki
The poor dad believed that avoiding debt was the safest way to protect himself and his family. He viewed debt as a burden that would only add to his financial worries. He preferred to live within his means, even if it meant sacrificing certain luxuries. The poor dad’s fear of debt stemmed from a lack of financial education and a mindset of scarcity. On the other hand, the rich dad understood that debt could be a powerful tool when used wisely. He saw debt as a means to leverage investments and create wealth. The rich dad was not afraid to take calculated risks and use debt to his advantage. He knew that by investing in assets that generated income, he could easily cove...
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