A Good Rule For Borrowing
A Good Rule For Borrowing
Never borrow to buy depreciating items. Things such as new cars, furniture, clothes, appliances, boats and luxury items should not be purchased until money is available to pay for them.
Don’t borrow to go on vacation, to invest in the stock market, to get married, to keep up with the Jones family (the Jones’ are really up to their ears in debt), to gamble, to give the kids a head start, to bail someone else out of a jam or because you want some extra cash.
Your thoughts on this subject? Your comments appreciated!
Content © Rich Brott, 2011
