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Timeless advice

Submitted by George on August 13, 2007 - 12:53.

This advice is what is in ever financial book I've read and most of the advice I've received has been this: Stay out of debt, have savings. Not only the way to weather the economy, it's also a way to just be stable in life.

Before this "squeeze" I was feeling about as unamerican as fidel castro but now that the subprime mortgage industry is effectively drying up, my friends who bought houses right out of college are starting to see the light.

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