Being in debt means using up the future in the present. Essentially, it’s about how we manage our time. Therefore, the most valuable resource for debtors is time, and it depends on which side time favors. Paying off debt is like repaying borrowed future time early. When the ability to generate wealth over time decreases, the future time becomes a burden, and the debtor faces the pain of bankruptcy. Taking on debt is costly. It may seem like borrowed money is repaid with money, but the irreplaceable resource of time is also returned along with interest. With the rise of postpaid credit cards as a common payment method, we’ve become less sensitive to the associated pain and cost. There are two ways to spend money: using present time or future time. The costs and pain are much higher when the future is spent as if it were the present. - Joseph’s “just my thoughts”
The basis of any investment is time considerations. The same applies to stock investing . Which stocks to buy depends on whether you are holding short-term or long-term positions . The most significant mistake beginners make in stock investing is buying and selling stocks without following fundamental investment principles . When choosing stocks, they select them based on long-term potential, and when they sell, they do so based on short-term trading because they cannot overcome their impatience and fear that the stock price will decline. Such individuals should refrain from investing in stocks. Even after losing money, they remain unaware of the reasons for their losses, becoming individuals who harm themselves and others. - Joseph’s “just my thoughts”