Wednesday, June 22, 2005

Don't Be This Guy


Globe and Mail
Originally uploaded by Josh Kerbel.
It is one thing to go into debt to build a business and buy an asset that either appreciates (house) or helps you generate income (a car to get to work), it is another to do so just to consume.

Most people don't understand the difference between good and bad debt.

The bottom line is, don't treat your house like an ATM by re-mortgaging it all of the time. You can go without that new TV or MP3 player for just a little while longer, despite what the television tells you!

3 Comments:

Anonymous Anonymous said...

That is a shocking article. If that is the way people are spending and thinking, we have a major train wreck ahead when interest rates rise.

The funny thing also is that the guy is a manager at an Italian Restaurant. Not exactly a position with security attached. So he truly must be perhaps one paycheck from oblivion. Or, he is stealing a pile of cash from the till.

2:52 PM  
Anonymous Anonymous said...

TECHNICAL QUESTION: How did you snag the image-capture off the Globe ROB section?

-- WCS

4:59 PM  
Blogger Josh Kerbel said...

I saved it as a jpg from the globe and mail and uploaded it to flickr.com and then posted it

5:02 PM  

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