Get out of debt

Why you must get out and stay out of debt

December 6, 2007

Your debt makes other people rich. You’re borrowing from your future self, who will be poorer, less secure, or lead a less abundant life because you wanted something now, before you could afford it. You must get out of debt. You can’t save while you’re in debt, and it grows like a weed. Kill it! [...]

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Buy on credit and you’ll pay for it twice

December 8, 2007

Buy something on a credit card, pay off the minimum amount per month, and you’ll actually pay for it twice. Here’s the maths.

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The hidden cost of not saving and investing because you’re in debt

December 9, 2007

Debt isn’t just painful because of the interest bill you pay. There’s also the long-term value of that money if you’d saved and invested it instead.

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The only good debt is dead debt

December 7, 2007

The only good debt is debt you take on for investment. Unless you run your own business, that begins and ends with an affordable mortgage to buy property. Get out of debt of any other kind, as soon as you can. Pay it off! Kill it dead! Borrowing to invest in shares is too risky. [...]

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