Watch this story about a woman who recently won $1,000,000 on a gameshow called "Are You Smarter Than a 5th Grader?" She may have proved to be smarter on the show but now she's filed for bankruptcy because she co-signed on her husband's business loans that are now defaulting to the tune of $3.5 million. She sites the tough housing market for her husband's "small business" having so much debt. That's a mighty LARGE debt for a "small" business.
Lessons to be learned:
1. Don't ever co-sign for a loan outside of your own home. (Biblical reference)
2. Seek to become free from debt in your personal as well as business life (reference)
3. Wisdom is better than money...and it will help you keep your money too. (reference)
11.25.2008
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