Nathan W. Morris: Borrowing Robs Future
on Friday, November 20, 2015Nathan W. Morris Money Quotation saying when we take a loan now, it is stealing that money from our future. Nathan W. Morris said:
“Every time you borrow money, you’re robbing your future self” — Nathan W. Morris
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In this quote, Nathan W. Morris is cautioning against taking on debt or borrowing money without careful consideration of the long-term consequences. His view is that whenever you take a loan, you are essentially imposing a financial burden on your future self who will be responsible for repaying that debt over time.
Morris seems to be suggesting that borrowing should not be done lightly, as the costs – in interest paid and future income/savings diverted to payments – will be shouldered by one’s future financial circumstances and goals. The quote encourages thinking carefully about whether taking on debt now is truly worthwhile, or if it may negatively impact one’s future financial freedom and ability to afford other priorities.
It serves as a reminder about how present borrowing decisions can directly impact one’s financial situation and options years down the road.