PT Barnum on Debt, Family and Credit

by James Hendrickson on July 15, 2019 · 0 comments

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

Mr. Beecher advised young men to get in debt if they could to a small amount in the purchase of land, in the country districts. ‘If a young man,’ he says, ‘will only get in debt for some land and 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 for what you eat and drink and wear is to be avoided. Some families have a foolish habit of getting credit at ‘the stores,’ and thus frequently purchase many things which might have been dispensed with“.

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

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

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