The latest global economic recession showed the power of almighty loan. That’s a great exaggeration but loans and mortgages galore is one of the most important reasons behind this recession. But that is not what I’m going to talk about. The mindset that lead to this recession is.
A typical way of life in the modern civilized society can broadly be broken down to the following steps. First, pre-school and school stage, very much innocent and not worth any attention for the time being. And then the college follows. Oh yes, the carefree days. And that is the critical stage in a person’s life because the decisions made now, have the greatest impact for the rest of one’s life. Sadly, as a rule of society that is when a person falls in debts. You see, it is not possible otherwise and for many indeed it is not. To study, you need a student loan, to get a car you need a car loan, to have a home you need mortgage. You can’t otherwise you say, yes, but that’s only the end result and let’s take a look at how it started.
I blame the mindset of then only budding loan society. You see, getting credits and loans has grown to be a reasonable way to so called financial freedom. And who cares, as long as you can put them away for tomorrow, you can be in debts for the next 50 years. That’s what it’s all about, after all, to put away the debts for tomorrow while reaping the benefits today. A loan for financial freedom — an oxymoron in itself which unfortunately has grown into our blood. Is that what you call freedom?
The answer is only one, and it is being cautious since the beginning. If you’re already deep in debts, you’re a history, but you can teach your children and what way better than showing the right example. Stop taking loans and don’t fall even in deeper bebts, shred your credit cards, give up your car and buy a bike. Stop and think what your life has become since you took your loan for financial freedom, don’t let your children make the same mistakes!
