441. Why I Have 3 Million Dollars in Debt

The Fitness Business Podcast with Erin Dimond and Jordan Dugger

Erin Dimond and Jordan Dugger

Health & Fitness, Nutrition, Fitness

4.6 • 667 Ratings

🗓️ 8 June 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

There's a monumental difference between debt and leverage and honestly, I could have used this episode 8 years ago. Going into debt and using someone else's money as leverage has been a game changer for me and I want to explain why. Hopefully after this episode, I have begun to unwind some of false beliefs you have around debt.

Time Stamps:

(1:10) I Needed This Episode 8 Years Ago

(1:46) Defining Debt

(3:48) I Have Over 3 Million in Debt

(4:48) Tangible Example

(6:46) 10x Lens

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Transcript

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0:00.0	I have over $3 million in debt.
0:02.4	That's how much my worldview has changed.
0:05.2	And if I needed more debt, I would gladly take on more debt.
0:08.6	I'm just in a position now where I have cash flow.
0:10.7	And I can use a lot of my cash flow.
0:12.7	But for bigger things, am I using my cash?
0:14.4	Absolutely not.
0:15.2	I'm using leverage.
0:17.7	What's up, guys?
0:18.4	Welcome back to the FitBiz podcast. So it's funny, I've got to record this episode
0:22.6	three different times now, all three different times yesterday. The first couple of times,
0:27.3	I'm working through a hormonal flush right now, and I'm on day three of no caffeine,
0:32.3	a lot of dietary changes. My brain just, it wasn't the words. We're not coming out.
0:36.9	And then on my third attempt i it was
0:39.5	great i was like man all right this is here we go brain is working things are clicking and i was trying
0:44.3	to um fit it in during nap time and jackson woke up so here we are on the fourth attempt to
0:50.1	record this this is one that man i've just I've had this conversation a million times and a million
0:56.3	times I've said, I really need to record a podcast on this topic because mainly because had I found
1:01.9	this, geez, five years ago, five years ago is about when this started to change for me.
1:09.0	No, this really started changed for me about seven years ago. If I would have found this podcast eight years ago, I would be like so much further ahead.
1:18.5	And I just, I would just, oh, I'd look back at my 25, 26, 27, 28 year old self when I had the money
1:24.2	mindset that I did. I'm like, why didn't anybody share this with me, like the fucking secrets to the universe? So anyway, today I want to talk about why debt isn't
	...

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