In life, we struggle to find meaning and purpose as it feels like we are going nowhere and chasing a shiny object after another.

This is why we created the "Pursuing Our Own Paths" Podcast to document our journey as two individuals who decided to go away from the conventional path.

James being an ex-high paying engineer at a well-known US firm to becoming an esports personality and entrepreneur.

Ervin going from a normal student to failing two businesses and finally succeeding in his third business - freelance copywriting.

In part two of the Money Mastermind series, we talk about one of the most controversial topics when it comes to your finances - debts. Many times, we hear from our family and friends that debt is always bad and we should always aim to be debt-free. In that case, why do billionaires and the rich encourage others to take on debt? Find out in this series to understand the difference between good and bad debt.

*WARNING: We are not financial advisors and this is not professional financial advice. We are just sharing what we are doing and how it has helped us to become better at managing our personal finances*

We will mainly be discussing:

1) When it comes to debts, people always try their best to stay away from it especially when it comes to credit card debts. However, before we understand whether debts can be good or bad, we need to understand the difference between assets and liabilities. (Most people get this wrong. For example, you might have heard that your house is considered an asset. Here's why Robert Kiyosaki says otherwise)

2) One of the most popular investments is in real estate. In fact, ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined! Find out the right way to invest in real estate here. (06:00)

3) The secret behind Macdonald's hidden business model. (Here's a hint: They are not in the hamburger and french fries business, they are actually in the ____ business)

4) When it comes to spending money on good food and luxury products, many people tend to discourage you from going overboard on things like fancy restaurants and Rolex watches. Here's why Ervin actually disagrees with this point and doesn't compromise when it comes to good food even though he is considered "thrifty" by many.

5) One of the most popular sayings in Singapore Ervin heard while growing up is "Work hard for 40 years and only enjoy at the end when you retire. It's about the end, not the journey." Here's why James disagrees with this and it is actually necessary to reward yourself to be in peak performance all the time.

6) When it comes to spending money, you shouldn't measure it by the transaction size but on the R.O.I. instead. For example, even though Ervin doesn't spend much money on things, he doesn't hesitate when he finds an opportunity to invest in himself and in business. (He just spent $2,000 on a virtual event for copywriters)

7) Why every entrepreneur should aspire to have a relationship with this entity. (No, it's not your spouse or family)

And of course, other valuable learning points that are covered in this episode...

Connect with Ervin here:

Facebook: https://www.facebook.com/kaizencopywriting/

Subscribe to the Freelance Copywriter Lifestyle Newsletter: https://kaizencopywriter.com/

Connect with James here:

Twitter:  https://twitter.com/ELolwr?s=08

Facebook: https://www.facebook.com/jlgsoon