Being 100% in Debt
Fact: you can save money, and purchase a house with cash. Fact: you can save money, and purchase a car with cash. Fact: you can save money, and furnish your entire house with cash. Fact: you do not need to move out of your parents house… EVER. Fact: you do not need to buy a car every 3 years. Fact: you do not need the latest iphone. Fact: you do not need a credit card. Fact: you do not need to go into debt or take out a loan… EVER.
I bet you never hear that. I bet you only see or hear people say what the “American Dream”™ is. The truth is the “American Dream”™ has been overtaken and redefined by corporate america. I bet you only hear, that living in a house and taking out a mortgage is “normal”.
Imagine if noone had a mortgage? We wouldn’t have had a housing bubble to burst. Imagine if all notes on homes were carried by the owner of the house, without any bank interruption. Instead of being upside down in a house with outrageous interest rates, you’d be in a much better house, that you’d take legal possession of from day one, with a very low interest rate, if any.
But, people buy into the lie that is the current Consumer Economy™ and think that they have to put their neck on the chopping block and live the Lifestyle. What’s worse, is that people buy into this lie and then complain when they figure out that they cannot afford it.
You have only yourself to blame:
- when you buy a car every 3 years.
- when you take out a loan to buy a house
- when you take out loans to purchase major appliances
- when you take out a loan to furnish your house
- when you buy the latest iPhone
- when you buy the latest video game
- when you buy the latest laptop
- when you buy the latest fashion
- when you eat out daily
- when you buy ready made food
- when you waste water and electricity
- when you do not help less fortunate than yourself