Debt is dumb

January 24, 2007 at 3:42 pm Leave a comment

Got your attention? I hope so. You see, we believe debt is dumb and most people think you need debt to prosper in America. Before you get your panties in a wad, chew on this.

What would you do for a living if you didn’t have any payments?

Would your answer be what you’re doing now? If you’re like most Americans, probably not. Most Americans are tied to their jobs just so they can pay bills.

USA Today had an article on their site describing the dilemmas facing hopeful retirees. What was the dilemma? Debt. Retirees are struggling to make it because they still have house payments, car payments and credit card payments.

90% of the divorces in America are caused by money problems. At times it’s mainly a control issue, but, if married couples had no debt, what would they fight about? Not that they wouldn’t fight, but couples are usually at odds when they’re struggling to make ends meet.

19% of the bankruptcies in America are college graduates. Recent grads, not only finish school with student loans, but also owe a few thousand on credit cards.

If you read between the lines, there’s one key element that’s missing here. It’s an important one too. You wanna know what it is? Freedom. You see, the reason Moneytalk believes that debt is dumb is that debt robs us of our freedom. The very foundation of America is freedom. Yet, we as Americans have chosen debt over freedom.

Do you know what you could do if you didn’t have a house payment? Car payment? Student loan payment? Credit card payment?

How much money would you need to make to eat when you don’t have any payments?
Do you know how fast you can build wealth when you don’t have any payments?

Ultimately, it’s up to you. Would you choose freedom or would you choose debt?


Entry filed under: Debt.

Federal excise tax refund What a day…month actually..

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