Avoid Debt: Live within your means and avoid borrowing excessively.
GEORGE S. CLASON
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Discover timeless wisdom on wealth and success in "The Richest Man in Babylon." Learn key principles to build and manage your finances effectively.
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You might be affluent if:
- You pay yourself first. You fund your retirement accounts before you pay anyone else.
- You live in a reasonably-sized house.
- You understand good debt vs. bad debt.
- You live a sensible lifestyle that's withi...
Borrow Wisely
Warren Buffett advises against excessive borrowing, such as credit card debt or unnecessary loans.
Some experts divide borrowing money into "good debt" and "bad debt."
- Good debt is investing in your long-term future, such as a mortgage or student loan. Ideall...
Day 1
- Right time to start investing is TODAY.
- Don't make big decisions when reeling under debt.
- Liquidity is critical.
- Have excess cash? Wait for the right time.
- Diversify based on what works for you.
- Take loans only ...
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