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Avoid borrowing more than you can afford from "summary" of Debt Free for Life by David Bach
When it comes to managing your finances, one of the most important principles to remember is to never take on more debt than you can realistically afford to repay. This may seem like common sense, but many people find themselves in financial trouble because they don't heed this simple advice. It can be tempting to borrow money to buy things you want right now, whether it's a new car, a designer outfit, or a dream vacation. But if you can't afford to pay for these things in cash, you probably can't afford them at all. When you borrow money, you are essentially borrowing from your future self, committing to repay that debt with interest. If you take on more debt than you can comfortably manage, you risk falling into a cycle of de...
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