| I You Want To Make Money: Avoid Debt! MAKE MONEY I You Want To Make Money: Avoid Debt!I You Want To Make Money: Avoid Debt!
By Rene Graeber Everybody starting in life should avoid running into debt.
There is scarcely anything that drags a person down like debt.
It is a slavish position to get ill, yet we find many a youngman, hardly out of his "teens," running in debt.
He meets a chum and says, "Look at this: I have got trusted fora new suit of clothes.
" He seems to look upon the clothes as so much given to him; well,it frequently is so, but, if he succeeds in paying and then getstrusted again, he is adopting a habit which will keep him inpoverty through life.
Debt robs a man of his self-respect, and makes him almostdespise himself.
Grunting and groaning and working for what he has eaten up orworn out, and now when he is called upon to pay up, he hasnothing to show for his money; this is properly termed "workingfor a dead horse.
" I do not speak of merchants buying and selling on credit, or ofthose who buy on credit in order to turn the purchase to aprofit.
The old Quaker said to his farmer son, "John, never gettrusted; but if thee gets trusted for anything, let it be for'manure,' because that will help thee pay it back again.
"Mr.
Beecher advised young men to get in debt if they could to asmall amount in the purchase of land, in the country districts.
"If a young man," he says, "will only get in debt for some landand then get married, these two things will keep him straight,or nothing will".
This may be safe to a limited extent, but getting in debt forwhat you eat and drink and wear is to be avoided.
Some familieshave a foolish habit of getting credit at "the stores," and thusfrequently purchase many things which might have been dispensedwith.
It is all very well to say; "I have got trusted for sixty days,and if I don't have the money the creditor will think nothingabout it.
" There is no class of people in the world, who havesuch good memories as creditors.
When the sixty days run out,you will have to pay.
If you do not pay, you will break your promise, and probablyresort to a falsehood.
You may make some excuse or get in debtelsewhere to pay it, but that only involves you the deeper.
A good-looking, lazy young fellow, was the apprentice boy,Horatio.
His employer said, "Horatio, did you ever see a snail?
""I - think - I - have," he drawled out.
"You must have met himthen, for I am sure you never overtook one," said the "boss.
"Your creditor will meet you or overtake you and say, "Now, myyoung friend, you agreed to pay me; you have not done it, youmust give me your note.
" You give the note on interest and it commences working againstyou; "it is a dead horse.
" The creditor goes to bed at night andwakes up in the morning better off than when he retired to bed,because his interest has increased during the night, but yougrow poorer while you are sleeping, for the interest isaccumulating against you.
Money is in some respects like fire; it is a very excellentservant but a terrible master.
When you have it mastering you;when interest is constantly piling up against you, it will keepyou down in the worst kind of slavery.
But let money work for you, and you have the most devotedservant in the world.
It is no "eye-servant.
"There is nothinganimate or inanimate that will work so faithfully as money whenplaced at interest, well secured.
It works night and day, and inwet or dry weather.
In the former "blue-law State of Connecticut", where the oldPuritans had laws so rigid that it was said, "they fined a manfor kissing his wife on Sunday".
Yet these rich old Puritanswould have thousands of dollars at interest, and on Saturdaynight would be worth a certain amount; on Sunday they would goto church and perform all the duties of a Christian.
On waking up on Monday morning, they would find themselvesconsiderably richer than the Saturday night previous, simplybecause their money placed at interest had worked faithfully forthem all day Sunday, according to law!Do not let it work against you; if you do there is no chance forsuccess in life so far as money is concerned.
John Randolph, theeccentric Virginian, once exclaimed in Congress, "Mr.
Speaker, Ihave discovered the philosopher's stone: pay as you go.
"This is,indeed, nearer to the philosopher's stone than any alchemist hasever yet arrived.
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