If You Want To Make Money: Avoid Debt!
By
René Graeber,
Preetz, Germany
get[at]clever.ms
http://www.smart-ways-to-make-money.com
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Everybody
starting in life should avoid running into debt.
There is scarcely anything that drags a person down like
debt. It is a slavish position to get ill, yet we find many a young man,
hardly out of his "teens," running in debt.
He meets a chum and says, "Look at this: I have got
trusted for a new suit of clothes."
He seems to look upon the clothes as so much given to
him; well, it frequently is so, but, if he succeeds in paying and then
gets trusted again, he is adopting a habit which will keep him in poverty
through life.
Debt robs a man of his self-respect, and makes him almost
despise himself.
Grunting and groaning and working for what he has eaten
up or worn out, and now when he is called upon to pay up, he has nothing
to show for his money; this is properly termed "working for a dead
horse."
I do not speak of merchants buying and selling on credit,
or of those who buy on credit in order to turn the purchase to a profit.
The old Quaker said to his farmer son, "John, never get trusted;
but if thee gets trusted for anything, let it be for 'manure,' because
that will help thee pay it back again."
Mr. Beecher advised young men to get in debt if they could
to a small amount in the purchase of land, in the country districts. "If
a young man," he says, "will only get in debt for some land
and then get married, these two things will keep him straight, or nothing
will".
This may be safe to a limited extent, but getting in debt
for what you eat and drink and wear is to be avoided. Some families have
a foolish habit of getting credit at "the stores," and thus
frequently purchase many things which might have been dispensed with.
It is all very well to say; "I have got trusted for
sixty days, and if I don't have the money the creditor will think nothing
about it." There is no class of people in the world, who have such
good memories as creditors. When the sixty days run out, you will have
to pay.
If you do not pay, you will break your promise, and probably
resort to a falsehood. You may make some excuse or get in debt elsewhere
to pay it, but that only involves you the deeper.
A good-looking, lazy young fellow, was the apprentice
boy, Horatio. His employer said, "Horatio, did you ever see a snail?"
"I - think - I - have," he drawled out. "You must have
met him then, for I am sure you never overtook one," said the "boss."
Your creditor will meet you or overtake you and say, "Now, my young
friend, you agreed to pay me; you have not done it, you must give me your
note."
You give the note on interest and it commences working
against you; "it is a dead horse." The creditor goes to bed
at night and wakes up in the morning better off than when he retired to
bed, because his interest has increased during the night, but you grow
poorer while you are sleeping, for the interest is accumulating against
you.
Money is in some respects like fire; it is a very excellent
servant but a terrible master. When you have it mastering you; when interest
is constantly piling up against you, it will keep you down in the worst
kind of slavery.
But let money work for you, and you have the most devoted
servant in the world. It is no "eye-servant."There is nothing
animate or inanimate that will work so faithfully as money when placed
at interest, well secured. It works night and day, and in wet or dry weather.
In the former "blue-law State of Connecticut",
where the old Puritans had laws so rigid that it was said, "they
fined a man for kissing his wife on Sunday". Yet these rich old Puritans
would have thousands of dollars at interest, and on Saturday night would
be worth a certain amount; on Sunday they would go to church and perform
all the duties of a Christian.
On waking up on Monday morning, they would find themselves
considerably richer than the Saturday night previous, simply because their
money placed at interest had worked faithfully for them all day Sunday,
according to law!
Do not let it work against you; if you do there is no
chance for success in life so far as money is concerned. John Randolph,
the eccentric Virginian, once exclaimed in Congress, "Mr. Speaker,
I have discovered the philosopher's stone: pay as you go. "This is,
indeed, nearer to the philosopher's stone than any alchemist has ever
yet arrived.
About the Author: You
can find out more on to acquire the mindset and behavior of the rich,
copy exactly what they are doing to achieve financial success, and stay
wealthy all your life - just visit the free website at: http://www.smart-ways-to-make-money.com
Source: www.isnare.com
Published - April 2006
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