Debtology;-)

Everyone's know about debt...most of us hate it..we try to avoid it, we try to get rid of it and .....some naughty people try to evade it as well;-). But very few people have the knowledge of how to use it as a leverage (In Robert Kiyosaki's own terms) to achieve financial freedom.
The most primary thing in debt that one need to be aware of is: "Is it a bad debt"?? or "Is it a good debt"??
Lets get the examples of Bad Debt:
Using credit card to purchase luxuries: Direct debits for the instalments on Mobiles, Cars and other big ticketed items like furniture, white goods and other electronic items.
Purchases on credit card like clothes, consumables and entertainment purposes.
Why are they bad debts?? Because we are using the leverage provided by the credit card to buy luxuries that we can't afford!! and spending our lifetime paying off bills.
Now let us consider side effects:
1.) Going back to work after retirement
2.) Doing two jobs or working seven days a week to cope up with financial pressures
3.) Bad marriages/Divorces
4.) Child delinquencies because of lack of proper parental care
5.) Heart attack and other stress related illnesses
6.)Suicides.
Considering all these side effects why do we still get into this bad debt?? Thats called temptation or lack of impulse control or false pride.
How to avoid this? By following the principle of Delayed Gratification!!!
What is delayed gratification?? It is temperorily giving up our present luxuries to end up having better luxuries in future with our own money.
So now what is GOOD DEBT??
I am not a financial planner or financial advisor or even a investor to give you the advice.
BUT what I know is this. If I can use banks money (ie Credit cards or Personal loans or other loans) to invest (Real estate or shares or a business) and make it work hard 24/7 to get a positive cash flow after covering the interest and monthly instalment then it becomes a good debt.
How do we do that?? By spending our spare time in acquiring knowledge in financial products and services as well as improve our accounting skills (ability to read numbers and understand them), reading self help books in investing and attending seminars. Its boring but essential if you wanna get out of life's grind in average life.
So its upto us either we chose to work hard for money or make money work hard for us (As Robert Kiyosaki says)