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How I Think About Debt
once you view debt as narrowing what you can endure in a volatile world, you start to see it as a constraint on the asset that matters most: having options and flexibility.
“Debt defines your future, and when your future is defined, hope begins to die. You have committed your life to making money to pay for your past.”
Debt is a tool, not the enemy, but use it sparingly.
Debt can amplify your growth or accelerate your downfall. The distinction is your discipline. Never use debt to live a life you can’t truly afford.
A simple rule I follow: Never finance a luxury material purchase if you can’t buy it twice over in cash. I think the single worst unforced error in
... See moreThe Impact of Debt
oaktreecapital.com
It’s very hard to turn the page in your rich life: Being frugal may be necessary at some stages of your life, but cheapness is one of the most difficult habits to break—cheap people don’t really think its a problem. Don’t over attach your identity to your spending habits. Ask yourself: What is your philosophy on money costing you? Your intuition is... See more