3 - Debt Myths: Debt is Not a Tool

Phoenix1

Phoenix1

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I think the reason I'm loving this book so much is because it coincides with my own beliefs. I pride myself on acting on principle, not whims of instant gratification. Actually, instant gratification scares me. In a past life, I was extremely careless with my money and through the years, I've "paid" for it. I never want to be beholden to a bank again. Not if I can help it.

I overheard two people talking the other day. They were in the throes of a conversation about today's youth. Basically, after listening to these two for over ten minutes, I concluded that they felt the entire planet is in real trouble. "These kids today - they don't care about a damn thing!" one of them said. "They don't respect anyone else's property and they want it all now! They want everything and they think they're entitled to it without working for it." the other said. Whether you agree with the sentiment of these two or not, the data suggests that our nation is facing a real debt problem that starts with the youngest individual and stops all the way at the federal government. It seems that very few people want to work and save anymore. They'd much rather borrow and pay back. Do you know what these two things are called? They're called delayed gratification and instant gratification. The person who wakes up one morning with no money and decides they want to go shopping at the mall with their credit card is engaging in instant gratification. The person who knows they need new clothing beforehand and works to save the money to buy what they need is engaging in delayed gratification. One is extremely childish and petulant and the other is mature and adult-like. You guess which is which.

I guess I can't blame the population for their errant ways. If you think about it, from birth, people are programmed to do stupid things. We sit kids down in front of the television set or computer where they're inundated with advertisements peddling the coolest stuff anywhere. Of course they're going to want what they see. The problem is, their parents are sitting in front of the same TV and computer. One ad shows a beautiful vacation for the family and then next ad offers a credit card to pay for it. Since so many people are weak minded and run on emotion, they fall for their own detriment. It's classic and very well thought out by the companies doing the advertising. It's a shame though. A shame that the American consumer is basically a tool that earns such an enormous profit for so many others. The worst part is, the American consumer has no clue he or she is a tool. They truly think they're hard working and deserving of everything they have.

This post is part of a series: The Total Money Makeover by Dave Ramsey
 
3 - Debt Myths: Debt is Not a Tool was posted on 06-04-2021 by Phoenix1 in the Finance Forum forum.

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