PT Barnum on Debt, Family and Credit

PT Barnum wrote the following back in the 1850's:

"Mr. Beecher advised young men to get in debt if they could to asmall amount in the purchase of land, in the countrydistricts.  'If a young man,' he says, 'will only get in debtfor some land and then get married, these two things will keephim straight, or nothing will.'  This may be safe to a limitedextent, but getting in debt for what you eat and drink and wearis to be avoided. Some families have a foolish habit of gettingcredit at 'the stores,' and thus frequently purchase manythings which might have been dispensed with".


Looks to me like not much has changed since the 1850s.

-James

Click here for the rest of Barnum's writings on finance.