Paying With Cash – 3
Some go into debt for so-called investment purposes. They are buying second homes, seaside properties, even speculating in commercial development or in the house rental market. People have no problem borrowing the money and joyfully exclaim that they are not using their own money, rather “someone else’s†money.
This is a volatile place to put your personal finances. Unless you have substantial cash available to cover for an enormous potential loss in income, run away from such so-called investing.
Are you “really†using someone else’s money? Your comments appreciated!
Content © Rich Brott, 2011
