Buffett's Money Rule 6: Limit what you borrow
Friday, March 24, 2017, 3:30 PM
You will not become rich by living on borrowed money (credit cards, loans). People initially think that borrowing is manageable. Borrowing should never be done without an objective assessment of future cash flow and other financial needs. One needs to have a solid plan to pay the debt back and not become its lifetime slave. A debt-free life is the best life.