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Tricks of the Rich by Paul A Overy

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Chapter 5

Borrow to create wealth, but borrow wisely!

Despite the fact that it was coined over 400 years ago, I am surprised by how many people live their financial lives by the saying, ‘Neither a borrower nor a lender be’.

Shakespeare wrote Hamlet in 1592. In this play, Polonius offers the above advice to his son, Laertes, before the latter embarks on a long journey. Not only was it well-meaning but, back then it was also excellent advice as, failing to repay your debts could result in a swift introduction to the working end of a sword.

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My own dad first quoted this mantra at me and he did so with the same love and care that Shakespeare’s ...

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