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. [...]
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! [...]
To get the most from your money in the long-term, you need to know what you own, what you owe, how much you bring in every month from your earnings, savings and investments, how much goes out again, and thus whether you’re living beyond your means. Completing this personal reckoning is step two of my [...]
That which is at rest is easy to grasp. That which has not yet come about is easy to plan for. That which is fragile is easily broken. That which is minute is easily scattered. Handle things before they arise.Manage affairs before they are in a mess. A thick tree grows from a tiny seed. [...]