Thousands of U.S. military troops are so deeply in debt that they are considered security risks. The Pentagon says that overwhelming financial problems can be distracting (a dangerous thing in a war) and also make individuals vulnerable to bribery and treason.

Much of the problem is stemming from the use of high-interest “payday loans.” Click here to read the USA Today article on the subject.

What does this have to do with real estate investing? Directly, not much. But indirectly, it spotlights the importance of the need for financial literacy. People need to understand the difference between good debt and bad debt, and how to borrow money for the right reasons at the best possible terms.

The Rich Dad Poor Dad website has a great tool for testing your financial IQ. Robert Kiyosaki wrote: “My Rich Dad said: ‘In order to get where you're going you need to know where you are.’” Click here to find out where you are.

Jackie
Chief Blogger
Wealth Intelligence Academy