To practice the principle of 'Don't Borrow What You Can't Repay,' individuals should compare their total payment obligations with their available income before borrowing money.

Authors

• Person: Barbara O’Neill Organization: Rutgers NJAES Cooperative Extension
  Twelve Principles of Personal Financial Literacy (Rutgers NJAES)

Sources

• Twelve Principles of Personal Financial Literacy (Rutgers NJAES) njaes.rutgers.edu Barbara O’Neill · Rutgers NJAES Cooperative Extension via serper

Referenced by nodes (2)

• debt management concept
• borrowing concept