April 21, 2013

Acquiring debt on consumable items is an effective strategy if you want to go broke. Why?

6 thoughts on “April 21, 2013”

  1. Katherine Graham says:

    Because consumable items are depreciating assets and they lose value immediately. Buying consumable items on credit will only make matters worse.

  2. Mike Finley says:

    Yes indeed, Katherine. Taking on debt on depreciating items that lose value quickly will take you to the poor house. This includes most consumable items that includes clothes, cars, and other “stuff.” How do you deal with this issue? When buying consumable items, PAY WITH CASH THAT YOU HAVE IN THE BANK. If you don’t have it, wait until you do. Sometimes life is simple. This is one of those times.

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