Question: How can people get to middle age, earn good money, have large asset holdings, and still not understand simple debt finance? Keep up the good work Noel, it must be frustrating.

Answer: The secret to becoming wealthy is really quite simple - you spend less than you earn and invest the difference.  One of the main differences between winners and losers is that the winners borrow to buy growth assets like property and shares at low rates of interest for which they can claim a tax deduction.  The battlers borrow at high rates of interest (non tax deductible) for depreciating assets such as cars and furniture.