This book is good for fighting bad debts, which is mainly focus on how to avoid bad debts, and how to escape from them if you already have some bad debts. With wit and insight, the author advises on the pros and cons of debt while helping us develop a philosophy about it as well as one for spending and saving. He explains that good debt increases net worth and includes credit-card debt, leasing a car greater than you can afford, and buying a house with 5 percent down. If what you purchase on credit can easily pay its way by selling it, or hopefully from the cash flow it produces, then such debt is a good idea. When debt reflects greed, impatience, or seeking the appearance of wealth, it has negative consequences. Using personal stories, humor, and cartoons, the author explains the principles of debt and money in the first four chapters and then counsels us on the value of developing a mathematical financial plan based on these fundamentals.This book is good for fighting bad debts, which is mainly focus on how to avoid bad debts, and how to escape from them if you already have some bad debts. With wit and insight, the author advises on the pros and cons of debt while helping us develop a philosophy about it as well as one for spending and saving. He explains that good debt increases net worth and includes credit-card debt, leasing a car greater than you can afford, and buying a house with 5 percent down. If what you purchase on credit can easily pay its way by selling it, or hopefully from the cash flow it produces, then such debt is a good idea. When debt reflects greed, impatience, or seeking the appearance of wealth, it has negative consequences. Using personal stories, humor, and cartoons, the author explains the principles of debt and money in the first four chapters and then counsels us on the value of developing a mathematical financial plan based on these fundamentals.
