Did you know that when you borrow money from a bank or from another person, you actually become a sort of “slave”? Yes, it’s true. And the more you borrow from someone, the longer it will take for you to be freed of that slavery. That’s why it’s really important that you take debt very seriously.
In our world today, people don’t think twice about buying big ticket items on their credit cards. But do they realize how much interest they will be paying to the credit card companies? The people who do this are slaves to the credit card companies for many weeks, months, and possibly even years, just for a single item they purchased in ignorance.
Credit cards are not the only forms of debt that can make you into a slave however. When you buy a home and get a mortgage, this can cause you to be enslaved if you end up buying a home that is too big for your budget.
One thing I want to make clear is that debt itself isn’t the culprit. It’s the people’s lack of knowledge that causes the biggest problem. Let me explain:
Although you will find blogs on the internet that talk about all debt being bad, I don’t believe that is the case. Why? Because most people that I know would never be able to buy a home if they had to pay for it with cash. Also, if I wanted to go make a big furniture purchase, I would far prefer to use my credit card rather than risk carrying large wads of cash with me.