The Total Money Makeover Workbook: Classic Edition

Broke people use credit cards.

The fact is, a new car loses 60 percent of its value in the first five years.

If you aren’t willing to sit down and read the entire “ninety days same as cash” agreement, don’t sign it.

Now if the lending institution—which has lots of experience in loaning money—doesn’t fully trust the person to repay the loan, why should you?

If the deal involves the idea of “get it now, pay later,” run.

If you give money to a friend, you get the joy of giving and your friend has the pleasure of receiving. If you loan money to a friend, however, your friend is suddenly no longer an equal in the friendship—rather, your friend is “under” you in a way that’s difficult to explain psychologically but true nonetheless.

One of the Best Ways to Lose a Friend Is to Loan Money to That Friend

Because debt is part of our “I want it now” mind-set as a culture