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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 41

Don’t borrow money – unless you really, really have to

It’s so important that I will repeat it: don’t borrow money unless you really, really have to. And even then don’t. Not unless you are borrowing off someone who is lending it interest free, no strings, not secured against your house, no potential for messing up friendships – and that sounds like cloud cuckoo land. Ha, there is no such thing as free money (or a free lunch).*

If someone lends it, they’ll want it back – plus. And that plus is what kills most of us, stops us from becoming prosperous. It has to be nipped in the bud. And if it’s too late for that, then it needs to be severely pruned. We have to get rid of that plus.

IF SOMEONE LENDS IT,THEY’LL WANT IT BACK– PLUS

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