Highly Trained in Debt

[DJ Minteer]

Do you realize that many people have not read a non-fiction book since high school (in contrast we’ve read that millionaires typically read several books per month)? So who then is teaching us about money? Sadly, the television and radio are mostly.

We can guarantee you this: Most of what is said on the television and radio about money is a scam, a lie, deceitful, B.S., and not wise – designed to keep us in bondage. To make us want to buy, buy, buy. To make us slaves. That is why Americans are in so much debt – we’ve fallen for clever marketing.

We’ve been trained that that’s how you do it. You borrow for anything and everything you want. Don’t wait, don’t save, don’t sacrifice. Have it all now. Have more than our grandparents ever did before we’re half their age! And if we get too much in over our heads, hey, just file for bankruptcy and walk away. Pass it on to our kids and grandkids to clean up.

Come on people, let’s wake up! Don’t expect the government to fix our stupidity like an enabling parent. Where do you think their money comes from anyway? It’s we who will end up paying for government bailouts.

Debt is stupid and the surest way for the United States to cease to be a world power, and you to be broke and powerless. Debt is killing us. Please, let’s stop doing it now. How many second chances will we get?

[cccfree]

Yep, I agree...we live in a consumer based society, it's kind of sad.

[Jonathan K]

Every car commercial you see has an offering of financing at the end. If you are late on a 0% financing offer in many cases you pay interest from the beggining of the loan. That is even if you qualify for 0% financing. Most people end up paying 3 to 15% interest on car loans. Why finance when you can save and buy cash? I'll pay myself the interest thank you.

Good post and great ideas.

Come on people, let’s wake up! Don’t expect the government to fix our stupidity like an enabling parent. Where do you think their money comes from anyway? It’s we who will end up paying for government bailouts.

Debt is stupid and the surest way for the United States to cease to be a world power, and you to be broke and powerless. Debt is killing us. Please, let’s stop doing it now. How many second chances will we get? - DJ Minteer

Interesting in view of the current economic crisis.

[cccfree]

No argument there. I think getting credit extended is good if you have a GREAT business idea with a proper business plan, or you already profitable and you just want to scale up and you need some capital to get it going.

Other than that getting a loan to purchase a 2012 Toytoa V8 Tundra that's going to get you 5 miles per gallon is probably not the most prudent, economical or wise choice.

[Gary Barzel]

Thankfully many people are waking up after leading a lifestyle for so long chasing the American dream. Although lots have gotten into this and are struggling now, at least this will be a lesson to our kids and grand kids that the surest way to survive is by being smart, and budgeting your lifestyle.