For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it.
Some purchases may require going into debt: a car, a house. Take time and shop around for the best price. Make sure to get the best interest rate on a major purchase. Put as much money down as possible.
You should get a no penalty loan if you pay the loan off early. Make extra payments as you can afford it. Get a fixed interest loan on a home.
If you pay cash for a vehicle, buy used, not new. A used vehicle owner has sustained depreciation on a used vehicle. Do not lease a vehicle as you will lose money.
It is wise to never co-sign a loan for anyone period. If you buy a house, get the lowest fixed interest rate 30 year loan possible. Do not get a 15 year loan.
When you sign the documents on a mortgage, the loan documents will include an amortization schedule. Start paying extra principle payments every month and in 15 years you will have paid off a 30 year loan.
When you start making mortgage payments on a 30 year fixed loan, the $1,500 payment is mostly interest and very little principle. Make a $250 payment every month against the principle and your 30 year loan will be paid off in just 15 years. Make a $500 extra payment towards the principle, and you can pay off a 30 year loan in 7 and 1/2 years.