Save For Your Luxuries – Don’t Borrow
Save For Your Luxuries – Don’t Borrow
The first step in avoiding debt is to simply not borrow money.
If you want something that you can't afford to pay for with
cash, you probably don't need it. If you really want it, you
should save up your money and buy it. By doing this you will
become disciplined and stay out of debt at the same time. It is
easy to get a credit card or a loan to buy something. It takes
discipline and hard work to save up enough money to buy it.
Saving money has always been a simple path to building wealth.
The more money you save, the wealthier you'll become.
Do You Really Need The Latest Tech Goods?
Many people are distracted by the bells and whistles of the
many electronic products which flood the market today. Many
people fail to realize that the digital camera or Ipod you pay
$200 for today won't be worth anything tomorrow. Electronics
almost always depreciate in value. Why go out and use a credit
card to buy expensive electronics when they will lose their
value after they're purchased?