Living on credit cards and loans won't make you rich.
Warren Buffett has never borrowed a significant amount -- not to invest, not for a mortgage.
He has gotten many heart-rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt.
His advice:
- Negotiate with creditors to pay what you can.
- Then, when you're debt-free, work on saving some money that you can use to invest.
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