Sunday, July 23, 2023

Debt is slavery. Don't be a slave.

By Tim Gamble 
"The rich rules over the poor, and the borrower is the slave of the lender." -- Proverbs 22:7 (NKJV)
Looking to survive dystopia? Here is an important tip: Get out of debt as quickly as possible. Stress over debt is distracting, hinders good decision making, damages personal relationships (financial problems are #1 cause of divorce), ties you to a job, limits your options, raises blood pressure and stress hormone levels (which in turn raises blood sugar), and is otherwise very harmful to your physical and mental health.  

Here's some bad news: Despite what some folks seem to think, any future economic or political collapse will likely open the door to more aggressive collection tactics and even debtor's prisons, not to a clean slate. It will take total collapse of civilization, including a massive die-off, for most debts to just go away. Anything less will just remove government protection of debtors.

Here's the good news: You can get out of debt. I've done it, and many others have, too. It does take effort and sacrifice, but it can be done. For some ideas on dealing with your current debt, and avoiding future debt, see my 2019 article Financial Preparedness: Back to the Basics. This article includes a couple of debt-busting ideas, plus a host of other sound financial advice. 

*** You can find Tim Gamble on social media! Follow at Gab (@TimGamble), Twitter (@TimGambleSpeaks), and TruthSocial (@TimGambleSpeaks)
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