There was a man who was looking for a stagecoach driver that could transfer his belongings quite a distance. The man had three drivers approach him for the job. He asked only one question of each of the drivers:

“How close can you drive your stagecoach to the edge of a ravine without going over?”

The first man answered confidently, “I can bring the wagon wheel within one foot of the edge, and you will be safe.”

The man let the second driver in.

“How close can you drive your stagecoach to the edge of a ravine without going over?”

The second driver answered confidently, “I can bring the wagon wheel within six inches of the edge, and you will be safe.”

The man let the third driver in.

“How close can you drive your stagecoach to the edge of a ravine without going over?”

The third driver answered confidently, “I don’t know. Whenever I drive a stagecoach, I stay as far from the edge as possible.”

And so it is with…DEBT. Yes, show your sophistication and prowess you man of wit and leverage. Show us how you can maximize your return on equity through sophisticated and complicated borrowings. Show us how to get real estate with no money down. Show us how to get the home of our dreams far before we can truly afford it. Please, show us your wisdom, oh Icon of Interest.

Please don’t.

Be that third driver when it comes to your finances. These are your family finances we’re talking about here. When you take risks, take calculated risks with money you can afford to lose. Sure, be a (calculated) risk-taker, a go-getter, a visionary, but do it with prudence, wisdom, and patience when it comes to the state of your personal finances.

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