Neither a Lender Nor a Borrower Be

I remember my grandmother once told me "neither a lender nor a borrower be". Whenever a neighbour came to ask to borrow "a cup of sugar" she would give it to them rather than lend it, else they would be "short" the following week when they had to give it back. The same principle should apply to money. If you hold a credit card, it is not "free" money even though it may feel that way whilst you are using it. You have to pay it back.
My parents have never held a credit card nor taken a personal loan for the simple reason that they believe if they cannot afford it then they cannot have it; something that was instilled into them at an early age. In recent times however, borrowing seems to be the norm, whether it be from personal loans, credit cards or taking out a mo View the rest of this article