Avoiding Debt Builds Wealth

Debt bleeds you of all your excess money each month. Debt requires substantial payment of interest which does not build wealth.

The more you can avoid debt the more you can build wealth. Save each month toward major purchases such as automobiles or household appliances. Put off buying these things until you have saved enough to pay cash. The interest you save each month will be enough to save even more.

Nothing you do on a regular basis will help build your wealth more than avoiding debt. 

Wishing you success and prosperity,

Daniel R. Murphy
Helping People Learn to Build Wealth

Wishing you Success and Prosperity,

Daniel R. Murphy

Wishing you well,

Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.

Please note: I reserve the right to delete comments that are offensive or off-topic.

2 thoughts on “Avoiding Debt Builds Wealth

  1. Moneygooguru,

    Thanks for the comment. I agree eliminating debt is a good plan. It is my goal and I am closer all the time. I am posting an article today though that examines so called good debt. We have to be cautious about it, but if done wisely good debt can be useful. I would agree though that avoiding all debt can be a powerful path to building long term wealth.

    Dan Murphy

  2. We absolutely agree. Having no debt is the key to the good life. Great tip, and so important. Thanks also for Books2Wealth. It is a great resource for reviews and recommendations of financial books, key financial tips and newsletter, as well as some FREE ebooks that definitely have the potential to change your life.

Comments are closed.