About Debt Experience.

Yesterday Ilona and I decided to do a collaboration post on debt.  You can find Ilona’s blog at https://easydiet.blog , she has a great blog with a lot of good advice on many topics dealing with issues of our daily life.

 

About Debt Experience.

Talking about debt is a touchy subject for many. I’m talking finances, and it impacts the lives of the majority of people in many countries. Here, for every dollar earned, people owe $1.75. Doesn’t sound too bad? It means that most people will never get out of debt their whole life. Sometimes debt is unavoidable, such as buying a house. But most debt is bad choices. I’ve been there and it isn’t fun. It’s plain stressful. You work hard to pay off the debt and hardly pay the interest. But why are you in debt? You need a car, but you don’t need the most expensive one you can find. Just because your neighbor bought a new car, doesn’t mean you need one. Maybe your neighbor goes on expensive vacations twice a year.

Does that mean you have to go on the same vacations? Vacations are good, if you can afford it. But don’t go into debt for it. Need new clothes? Are you sure? Last months clothes are suddenly no good because your friend just bought new clothes? Do you really need to eat out every day? And put it on that nice piece of plastic so you don’t see it? Until the end of the month. Buy this and that on easy payment plans. Sounds great. But it adds up, fast. And you are barely making the minimum payment each month. You forget to look at that line that says how long it will take to pay it back. 64 years! Hey, that’s not a fairy tale. I have been there. But I got out. How? By keeping to things I could afford. Paying cash. AND, concentrating on getting that debt paid down. Which isn’t easy, I understand, but it’s worth it!

About Having No Experience With Evil.

I had never experienced debt, because i think is not alright to over pay, i better find few extra jobs on the side for few month until i get enough to buy what i need or what i want. I never had to pay for studies, i was blessed to grow up in France, yes we have huge tax everywhere and on everything, but at the end we have good medical care which is free and free educations as well.

You always should think twice before entering in this vicious cycle of debt. It feel lile a way out sometime but in can be a way to be in bigger trouble. Some people take loan to pay the loan and again and again. At the end you pay a huge amount of money to banks and it make your trouble just worst. In certain case there is sadly no choice like for studies in country as America, where it cost an enormous amount of money. I m lucky to live in a country where it is free to learn, it should be everywhere like this. Every human should be equal but this is another subject.

That’s it for now folks, hope you enjoyed it!

Steve, with special guest Ilona.

 

74 Comments on “About Debt Experience.

    • I don’t know why I was having problems, I had everything set up and when I hit publish, it wouldn’t, then when it finally did, the font was too small. Well, if you ever want me as a partner again I will make sure it works perfectly!😂

      Liked by 2 people

  1. Good post on debt. As someone who knows first hand how a spouse used to use my SSN to open credit card accounts in both our names and not tell me and eventually racked up over 30 thousand dollars in debt I can relate very much. I worked my way out of it and now we don’t have a marriage. So be careful people!

    Liked by 1 person

    • Debt can be a terrible thing and have terrible consequences which people seldom think about. And in marriage it’s important to be working together not trying to hide things from your spouse. Thanks for reading and the great comment RJ! Hope you day is a good one!😃

      Liked by 1 person

      • Absopositivilutely! I figure it’s better not to promise than to promise and not deliver. Hope your day is going well!😃

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      • Okay, how is a promise implied? A promise should always be stated clearly so that the people involved know clearly what has been promised. I think I got that right.

        Liked by 1 person

      • So… you would say that an implied promise is not a promise? One can easily infer a promise to do things without ever stating it clearly.. Such as having someone stand in for you and say that you would promise to be available. But when the time comes… it would be easy to say the stand in promised you, not me… See what I mean? I agree with you that a promise should always be stated clearly and unambiguously… unfortunately some will never commit to a promise. Are they then not to be believed when they imply a promise? How’s the headache BTW?

        Liked by 1 person

      • I think you are trying to spin me in circles. I would say that having someone stand in and make the promise isn’t really a promise by the person, after all, why would the person do it that way and not just make the promise him/herself? I would be wary of a promise made that way. Maybe I just don’t trust people enough. Maybe I’m still spinning. Sigh.

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      • Well as stated in her latest post… Ilona mentions that trust is not an issue with the other but rather with ones self.. which should be worked on. I know for myself…. I have come a very long way with my trust issues. I think you can overcome trust issue by shared experiences. You will begin to see the things manifested in the other which will give you the confirmation of trust you wish to have. But I think that is only done through being in the same place at the same time. Not through electronic devices. Now I need to go take some Tylenol… ugh….

        Liked by 1 person

      • It is difficult to build a relationship mainly through electronic devices for sure. People need to be together in real life for a meaningful relationship to develop.

        Liked by 1 person

      • True, we can keep the Tylenol people in business!😂Always enjoy some engagement, especially when I’m not busy, like today, although I am supposed to be doing some cleaning today, but this is more fun!😂😹

        Liked by 1 person

      • It does? I seem to be way behind right now, think I might have to slow down on posts for a couple days so I can get caught up!😂😹Okay, not quite that bad, but I am behind. Sigh.😁

        Liked by 1 person

      • Oh, it’s not really so bad, except maybe the dusting part, really need to get that done! And in my place that definitely takes a while!😂🙃

        Liked by 1 person

  2. Good post.
    Debt is a trap, into which so many unwary fall, myself included. But it is worse than that – it is how modern society works. Banks create around 85% of all new money, in the form of interest-bearing loans. That has to be paid back, with the interest! So, gradually, but inexorably, money is sucked up the chain. Even if everyone is on their most prudent behaviour! Banks would appear to run the world, although it is never stated. Only a return to barter can ever change this situation, to the best of my knowledge. 🤔😢

    Liked by 3 people

    • Thanks for reading and for your great comment! Some debt is inevitable, but most can be avoided since most is just crazy choices that people make, often times just pretending they have more than they do. Terrible system we have these days, no doubt about it. Have a great day!😃

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    • But didn’t we create money as a medium of exchange for goods and services because the barter system became too difficult to manage as the population grew?
      ‘Rend unto Caesar…”

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      • Rend nothing unto Caesar….Money issued by a sovereign (state/monarch) is fine because it bears no interest. Canada, Britain, the US, Australia and Guernsey have all tried this system successfully until commercial banks complained, and there was reversion to the traditional system. If a bank loans out £10,000, let’s say around £10,500 has to be paid back because of the interest. Where can that extra £500 come from, aside from new lending? Ultimately, somewhere along the line, someone will not be able to pay back and their collateral will be seized. It’s a game of musical chairs. And it is how almost the entire global financial system runs.

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  3. I had an English professor who said when he went to college, he paid a flat fee and could take as many classes as he wanted. Whatever he wanted. This was probably in the 40s in America, though I could be off a decade or so. I have a difficult time with capitalism and it’s second cousin greed. And people wonder why we’re such a “progressive”, violent country. Historians are going to laugh at us.

    Vive la France. May I ask, are you bilingual?

    Liked by 1 person

    • Thanks for reading Peregrine! Education costs have certainly changed a lot for sure. Bilingual? I used to be able to speak French although not exactly flluently, but I have forgotten most, can only speak a few words now, nothing that would really help. I wish I had kept up with it though. Terrible since we are a bilingual country. Enjoy your evening!

      Liked by 1 person

  4. I agree! It’s almost impossible for us Americans to have a college education without going into debt. It’s ridiculous because then you’re working your tail off just to pay for college. You are definitely lucky! Great post on debt!! 🙂

    Liked by 1 person

    • Yes, college education is expensive here in Canada as well, hard to believe that it’s free in France, nice though. Thanks Michelle, glad you liked it! Hope your day is great!😃

      Liked by 1 person

  5. Great post and good topic for discussion. I agree with your take that we need to be in control and going into debt puts us under the yoke of another (not God!). Scripture is also clear that charging usury (interest), let alone excessive usury, to poor people is WRONG. Yet, our western culture has normalized that to the point that the less you already have the more interest you can expect to pay on a loan. Student loans, for instance, have high interest rates–and who is poorer than a college student??? The corruption in our world is maddening!

    Liked by 2 people

      • I hope you experience warmer weather soon. Thanks for staying in touch Steve. Central Ohio has been very wet this spring, and rain is falling right now. The birds are loving it.

        Liked by 1 person

  6. Yes, most debt is bad choices. But if isn’t, then it’s extra stressful, that’s where my family is. We have never been in debt too but after the government practically robbed us for everything we own, including our business we had to rely on friends and family to help us out.

    But I do get your point in this post. It’s stupid to spend everything you have just so you can compete with other people. Sadly a lot of people fall into a debt trap because they are simply thinking of the present when they take loans and other credits, not realizing until it’s too late that they’ll be spending a lifetime before they can pay everything.

    And yes, every human should have something equal. It should be a human right to get free education and medical care in all country. AND a home.

    Liked by 2 people

    • Thanks so much Jessica for reading and for your interaction! Great comment, yes, sometimes debt comes, not by our choice. Unfortunately so many people get into debt for very unwise reasons and then can never get out. I have known people like that, so many different credit cards all maxed out and really nothing to show for it, and struggling to just pay the interest. It is a terrible trap sometimes. And education costs here in Canada are unreal, it can take years to pay for it after one gets a good job! I like the way it’s done in France, should be everywhere to give everyone an equal opportunity. Great comment Jessica, have a wonderful day!😃😺

      Liked by 1 person

      • Yes, I have seen plenty of them too, those fell in the trap. I guess you can say that it was thanks to them I never went to dept by choice. I never own a credit card. It’s too hard to control.
        Give Muffin a kiss for me please! I’m currently reading a story about cats thought of her.
        Have a wonderful day too! 😊

        Liked by 1 person

      • Thanks Jessica, just starting a new day here, had to quit early last night, I was just too tired.😴 Muffin meows her thanks to you.😸Hope your day is going well!😃

        Liked by 1 person

  7. Hello Steve, hope you’re having a good day 😊 great topic and collaboration! The big institutions make sure the people are always in debt for their benefits, especially through loans and credit cards…a person must be wise and really be convinced of what they have and not imitate others especially who are wealthier, it’s always a lost bet!
    Have a good day and hope it’s getting warmer 😊

    Liked by 1 person

    • Thanks so much for reading Huguette! Yes, it is so easy getting into debt, not so easy getting back out. Debt free is so much better! But they make it so easy for people to go in debt now and trying to keep up with friends, neighbors, family just seems to trap people. Better to be satisfied than to be stressed! It is a bit warmer today, even had a small thundershower earlier. Muffin didn’t like that, she hates thunder!🙀 She stayed by my feet and wouldn’t move! Hope you enjoy your weekend!😃😺

      Liked by 1 person

      • Thundershower 😨 oh can you blame the poor Muffin 🙄 and it’s warmer despite? Great then 😊
        Yes this is the problem they make it easy and they almost beg you to be in debt haha
        Lucky are those who are satisfied! Very lucky
        The weekend is calm and mainly resting
        Enjoy yours as well 😊

        Liked by 1 person

      • Supposed to rain here tomorrow, but maybe then I will get some cleaning done in here, dusting is the worst part. That’s the price I pay for having so much junk! Though I’m going to try and get rid of some this year if I can. Of course, I said that last year too and it didn’t work!😂😹 It’s actually hard to believe hearing thunder after just having snow yesterday! But we sometimes get thundersnowstorms! Weird to see lightning and snowing at the same time! A relaxing weekend would be nice, but I don’t think it will happen for this guy!😕

        Liked by 1 person

      • Probably you will say the same next year as well 😂😂 the never ending story of all of us I guess!
        This weather is getting weirder each day so you shouldn’t be surprised I guess haha
        You can choose to relax, I believe nothing will run away, when you relax you’ll think even better I guess 👍😊

        Liked by 1 person

      • I’ll relax Sunday, maybe, too much to do tomorrow. I’m a terrible person, should have had this stuff done already, but that trip to Winnipeg on Wednesday kind of changed my schedule a bit, worthwhile though!😃😺

        Liked by 1 person

      • Well at least Sunday then not that bad 😊👍 yes when our plans change, we need to reschedule I guess in a way
        So enjoy your weekend as much as you can 😊

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  8. Debt sucks. Been there done that. And it took years to get out of it. Now, I have no credit cards. It’s hard enough just paying normal bills without the extra cost of buy now pay later malarkey.

    Good post Steve!

    Liked by 1 person

    • True, we live in a society now that makes it so easy to get into debt and people get so far down they can never get out again. People forget about all that interest they have to pay on those credit cards and other loans, it isn’t free money. Thanks for reading Stu, have a great day!😃

      Liked by 1 person

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