Identify Good Debt for Tradesmen

0:05

1:21

17.4K views

At 0:05 in

Electrician Sons Asks Father How to Avoid Major Debt as a Tradesman, do you guys agree? #electrician

Watch on YouTube

What happens here

A master electrician dad explains to his apprentice son that 'good debt' involves investments that directly enhance one's career and earning potential. This includes purchasing necessary tools and specialized equipment, such as a scissor lift or other articulating equipment, and investing in assets like a home (which can serve as a home shop). These types of debt are considered beneficial as they contribute to long-term profitability and professional development.

Goal: Recognize investments that contribute to career advancement and profitability as a tradesman.

Tools and materials

Home / Home Shop N/A — Providing a stable personal asset and a dedicated workspace, potentially reducing business overhead
Trade Tools N/A — Essential equipment for performing trade work and increasing efficiency

What they say

(498 characters)

Hide

Hey dad, what is a good debt as an electrician and a bad debt? Is there such thing as a good debt? >> Uh, absolutely. A good debt would be tools, anything that makes you better in your career is definitely good debt. A scissor lift. >> Okay. >> Right. A piece of articulating equipment that you could profit from, right? Keep it on the job. Obviously, your home work out of your house and you have a home, home shop. That's a a great debt. A bad debt would be buying new vehicles,

Auto-generated from the video audio.