2 ms·
Great little post. I agree and add: +save your money, don't buy tv's cars and homes. specially when you are in your 20's (i still am, I threw a minimum 20% of
by 3327 14y ago
Great little post. I agree and add:
+save your money, don't buy tv's cars and homes. specially when you are in your 20's (i still am, I threw a minimum 20% of every paycheck into savings).
+Debt, and any such thing that anchors you is a NOGO.
+only debt to take if ever is for a business, and only when cash is the only barrier impeding growth. (and if this is the case most VC's will gladly give you money)
- jrs235 14y agoGoing into debt to consume things (cars, homes, vacations, clothes, etc.) is Bad (capital B). Going into debt to purchase capital that has the potential to pay for itself and make a profit in the long run is [not as] bad. Saving to buy things debt free regardless of its purpose is the best way to go. Those that [can] delay instant self gratification tend to be the ones best off. Short term pains for long term gains.
- gsaines 14y agoStrangely, when I first got my job 2 years ago, I was sorely tempted to buy my dream car. I actually test drove it with a super pushy saleman and was within an inch of buying the thing. Good thing I didn't, because I'm using all the cash I would have spent on that car to get this new company going. And living frugally, you can stretch out the value of a car a very long time. Plus, the car is a constant monetary drain, starting a company has the potential to make money eventually (although statistically I imagine most startups are a net drain on a person's net worth).