There’s a saying I used to hear in my youth: "Start building your assets as early as possible."

The idea behind this was:

a) When you don’t have enough money to pay cash upfront, acquiring assets through debt is a better option than saving for a future cash purchase.

b) Committing to yourself is never quite like committing to a bank.

As I got older, I realized that for this strategy to be successful, it requires more than just taking on debt—it also requires:

a) Careful planning: Defining how much you’re willing to commit and maintaining a disciplined spending approach to balance your budget and mitigate the risk of default. Without this, you can easily fall into serious financial trouble.

b) Acceptance of drawbacks: There are costs to taking on debt, such as interest, insurance, and the potential for extra charges if payments are delayed or missed due to unforeseen circumstances.

Of course, these parameters must vary depending on the market conditions. For example, in the United States, mortgage rates for first-time homebuyers are so low that it often makes more sense to buy a home than to rent.