20 Life Lessons from the 1900s Still Relevant Today

Try avoiding debt

Literature is full of references to personal debt, and none are approving. The ancient Roman writer Publilius Syrus said, “Debt is the slavery of the free.”

In the early 20th century, before the widespread use of credit cards and other financial instruments, large household debt was rare.

Mortgages as we know them first came on the scene in 1934. Today, consumer debt is exploding. It stood at $14 trillion in the first quarter this year.