Interest never sleeps
February 26th, 2006
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Confetti rip One man’s perspective on why not to get into debt:
“Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits nor travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours. . . . Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.” — J. Reuben Clark, namesake of the Brigham Young University Law School
Entry Filed under: Firevalt
2 Comments Add your own
1. Debt Hater | March 3rd, 2006 at 2:43 pm
Holy crap. That’s one way to put it. It’s true though. The trick is making it work for you in investments and avoid it in debt.
2. Firevalt Blog - Personal &hellip | March 20th, 2006 at 8:58 am
[...] Get out of debt as soon as possible, so compound interest isn’t working against you, then start getting compound interest on your side. The sooner you save, the more you’ll have in the end. [...]
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