Andrew Tobais, writing an economics column in Newsweek(!) said “Live below your means. Other people live on less than you make.” Second best economic advise I ever took. The best was “Avoid debt.” Also, a great source of wisdom was “A Random Walk Down Wall Street”. by Burton G. Malkiel. One form of debt that makes (or made) sense is a home mortgage. Other than that avoid any unnecessary debt.
The best was “Avoid debt.”
Debt kept me from telling the boss to jump in the lake on bad days..................