Yet we are not taught much about how to be wealthy or financially free. We see the Banks and Credit Card Companies offering us more credit than we could ever repay, until the interest swallows us into bankruptcy. The secret to Financial Independence or freedom is education. Not only the education of a University or College, because the acumen or mindset of the wealthy is not taught there. One must look to mentors, study biographies, and the financial patterns of the wealthy.
Rich people live an extravagant life style while carrying a lot of debt.
Typically these are people no more than 3-4 months away from bankruptcy if they were to lose their source of income, usually their job. Wealthy people have several streams of income, which exceeds their monthly cost of living at whatever standard they choose to live. This is called financial freedom. Keeping it and making it working for you is the hard part. Typical leveraging strategies utilize an amount of dollars or equity to generate more borrowed money, and this has its place in the economy.