Michael D. Kresh CFP®
Dan Kresh FPQP™
We often talk about how money is a tool.
Debt is a tool too, specifically a shovel.
Just like with a shovel you can bury yourself with debt, you could plant a garden, or start a foundation.
The thing about debt and shovels is there’s no way to avoid “dirt”. Some people may not like dirt and think that having any dirt is bad. That’s not right or wrong but it is limiting.
If you want to live without dirt, you may be able to, but if you’re willing to get dirty and dig then your potential could be higher.
There are different types of shovels and different types of holes to dig.
Using the wrong shovel for the job can do a lot of damage. If you want to plant a flower, an excavator may not be the right tool. If you need to lay a foundation, then a spade may not be sufficient.
If you don’t have the right type of shovel or you can’t seem to stop digging then shovels can lead to bigger problems. This does not mean that shovels are bad. It means that like most tools, shovels are helpful in skilled hands but dangerous if used improperly.
Utilizing tools like money and debt in ways that work for your circumstances are key to your financial wellbeing. Not everyone is a shovel expert, but we can help you determine if a shovel is an appropriate tool for your goals. If you do need a shovel, we can help you pick which one and guide you with managing the project. We can also tell you if a shovel isn’t required for the job.
No matter what it is you are trying to accomplish in your financial life we can help you determine what tools are available to you and how to optimize them for the jobs at hand.