In business, it is normal, we borrow money from bank, but we must have assets to support, either in terms of goods or of property. If your assets are more than liability, your company is sound in financial condition or on the contrary, your company will be in danger, facing the risk of bankruptcy.
However, in term of our private life, we must never borrow money for our personal use. In Western slang: “Pay bills first, then eat.” It means that we must earn money first, then we start to use money.
But, nowadays, people sign credit card to use money before they earn their money. It is dangerous because tomorrow is uncertain and we never know whether we can earn money tomorrow or not.
It you want a peaceful life, you shall never borrow money for your personal use. You must earn first, then you use it. Offending this principle, you will face a sad destiny and forever you shall live in dismay.
Therefore, we must control our money tightly, never to buy anything before we earn the money. You must make income and expense balancely.
As long as you do not own other people’s money, you are a rich man in principle. You shall live a life upon which no one can interfere whenever you are or wherever you go.