I’ve been following Dr. David Phelps’s column for a while, and the advice he gives on this is solid. If you’re not familiar with Phelps, he’s a noted financial expert who recently helped the Florida Department of Education develop its financial literacy curriculum. He’s also a financial columnist here at Newsmax and has written several articles, including this one, on exactly this subject. I asked when he believed a business owner should use credit, and his response was succinct and simple; “In today’s economy, you should use credit only where a positive ROI is essentially guaranteed.
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