You owe $39000, what do you have to show for your debt??
Welcome to the world of consumer debt – 39k is the average debt that all of you owe on your credit cards, lines of credit, car loans, student loans etc…
This is the reality today.. this is how you finance all of the luxuries and joys in your life that you would otherwise not be able to enjoy. It is also the kind of debt that opens doors to the future for some and gives others the ability to pursue progressively higher and higher standards of life.
Often misunderstood though is that this debt automatically turns you into nothing more than a return on investment for the ever profitable credit card providers, loan providers and banking institutions alike!
To put it in simpler terms.. you are a financial tool that finances wealthier peoples lives in exchange for giving up your future income (borrowing against your own future)! Make sense? It should, because I believe that anyone who swipes their credit card should absolutely understand exactly what that swipe entails.
So.. is consumer debt the evil of all evils? It depends, there is no doubt that debt plays a key fundamental roll in the social economic system that is the basis of our every day lives.
What has consumer debt done for you? Has it opened the door to a rewarding career? Has it put that TV on your wall? Does is call you every day now demanding minimum payments?