To get true debt help one must first recognize there is a problem.
We live in a debt driven culture. However, it doesn’t have to be that way. Let me explain.
Our Debt Driven Society
There are several insidious forces that encourage people to embrace debt.
This debt mentality leads many people to financial crisis again and again. These factors are:
Every dollar in existence is created out of debt.
The Federal Reserve Board (Fed) currently controls the money supply of the United States.
This is the root of many of our financial problems. A debt mentality at the top trickles down into the mindset of the population that debt is okay.
The US currently has a
fiat monetary system.
Fiat currencies are designed to erode over time. The Fed increases the money supply (to stimulate the economy) and the politicians recklessly spend money for public works, social programs and wars—that we don’t have.
This creates a perceived prosperity for awhile. However, the printing presses roll and we the public pay dearly later in the form of an
debasing of the dollar
is harmful to the economy and all the politicians do is give lip service to a laughable budget, while the hard worker of the US pay for this insanity.
People are unmotivated to save since the dollars of tomorrow will not be worth what they are today. A general feeling is why not spend money while it is worth something.
We are bombarded with ads encouraging debt.
Television, newspapers, the radio and the internet all say that we deserve things and it is okay to go into debt to get them. This instant gratification mentality is hard to resist.
The result of all of these powerful forces is a general societal acceptance of debt that drivers are behavior. In other words, a debt mentality is engrained into the culture. This is bad and is getting worse by the year.
. Debt help can only occur when a conscious effort is taken to understand that debt isn’t good in the long run.
Why is Debt so Bad?
Being in debt is stressful
Debt can lead to financial crisis, relationship problems and more. The immediate gratification of acquiring things we don’t really need frequently leaves as quickly at it comes, however the hangover of debt can last for years (or decades). This is a bad trade.
Interest on debt can easily get out of control.
Many loans have a high interest rate. Over time the interest rates frequently becomes a significant portion of an individual’s (or family’s) expenses.
A debt mentality drives reckless spending.
A mentality of paying tomorrow for the benefits of today usually increases over time as more and more instant gratification items are purchased with today’s dollars. Debt easily gets out of control.
The financial edge.
An illness, job loss or other financial problem can cause a major financial crisis if excessive debt has put a person near the edge of not being able to pay his bills. This can lead to financial crisis or a bankruptcy.
Final Thoughts on Debt Help
Getting debt help starts with taking personal responsibility. Grabbing control on your finances by the reins and living within your means is satisfying, less stressful and helps promote a brighter financial future.
Return from Debt Help to the Debt Solutions