Monday 1 July 2013

20 of 20 Debt is Bad

20 of 20 Debt is Bad

Debt should be temporary not permanent. The aim is to assemble a surplus not debt. Debt is bad.

It is very hard to go through life without at some point being in debt. But debt is not the ideal, it is something that we should try to avoid if at all possible, it is something that should be temporary, it is something that every effort should be make to pay off. Look around us and you can see Governments all over the world who think that debt is at worst only annoying, in no way a disaster. They do not see why debt is really a problem, that so much money is spent to pay off debt and the interest from the debt is bad enough but I think the worst part is that it steals from the future. Instead of making plans that will improve things you are treading water at best, at worst trying not to drown. 

The aim for families and Governments should be the same, to build up a surplus. To have savings ready for a rainy day, when costs rise, when the unforeseen is upon us, when we would like to do something special. We shouldn't be borrowing money to do any of those things if it is possible to save. It should be our goal to save money so that we are the masters of our own destiny and not the slaves of debt.

For other posts on this topic:

Debt is King I

Debt is King II


Debt: The Options

Upon Hope Blog - A Traditional Conservative Future

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