Warren Buffett on How to Stay Out of Debt

Staying out (and quickly getting out) of debt has been something I have taken pride in over the years. While there is an argument to be made that a modest amount of debt can work well for sovereigns and even corporations, on a personal and household level it loses its luster a bit. 

In the following video, from 1999, Buffett discusses the various topics associated with how to stay out of debt. Obviously, a billionaire is going to make it look easier said than done. 

But as speculators/gamblers, we would be remiss not to play close attention to managing personal finances effectively. Thus, the video is well worth a viewing on this summer Saturday.