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Avoiding debt is essential for financial security from "summary" of The Psychology of Money by Melody Jefferson,Morgan Housel
When it comes to financial security, one of the most crucial principles to adhere to is avoiding debt. Debt can easily become a burden that weighs you down and prevents you from achieving your long-term financial goals. By staying away from debt, you are able to maintain control over your financial situation and avoid unnecessary stress and worry. Debt can quickly spiral out of control if not managed properly, leading to a cycle of borrowing and repayment that can be difficult to break free from. It can also limit your ability to save and invest for the future, as a significant portion of your income may be tied up in servicing debt payments. This can hinder your overall financial progress and leave you vulnerable to unexpec...
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