Borrowing Money

Unless you have an emergency, avoid those enticing
advertisements to lend you money at incredible rates.
Banks and lending institutions make it much too easy to borrow
money and especially during the holidays, they flash all their great
advertisements drawing people in.
Afterwards, you have borrowed money that you could have done
without and now you are locked into a five-year repayment
contract. If you want a new car or boat, it is better to save.
If you do need a new car, avoid brand new cars, which lose
massive amounts of depreciation the minute you drive off the lot.
Instead, look for something a year or two old where you will still
have a nice car but much more in line with an appropriate cost.