Don't borrow money. Simple isn't it. More to the point don't borrow more than you can comfortably pay back. That means getting a mortgage that you know you can pay even if you lose a lot of your income. It means paying off credit card purchases every month and it means paying off your car loan as soon as possible and continuing to drive the debt free car. Most of all it means living within your means and not falling in love with all sorts of things you probably don't need.
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This answer is the subjective opinion of the writer and not of FinancialAdvisory.com