Page 45 - Charles Calhoun Book Rich As You Want To Be

that. There are lots and lots of temptations to

encourage you to spend more than you earn. To get

that item now instead of waiting “years” while you
save for it. There are credit cards all over the place,

shiny beautiful cars that can be yours just for

signing the application. It seems almost too easy.
The payments (the hard part) come later and can

last for years. College loan payments can last for

decades. Ouch!

Those are very important questions. In the
Dedication I wondered why more people do not

become wealthy since it seems to be simple to do.

One of the main reasons is because most people
have debt. Debt is “normal”. They owe money for

things they have bought when they couldn’t pay
cash for it. It could be a car, a college education, a

pair of pants, or a repair of an appliance. As a

result, they must spend their income paying back
debt plus INTEREST to the person or institution

they owe money to. Often this leaves them without

the money to save, invest and build wealth.

Some of the common ways people get into

debt include the following:

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