Financial Freedom in Debt

The latest global economic recession showed the power of almighty loan. That's a great exaggeration but loans and mortgages galore is one of the most important reasons behind this recession. But that's not what this post is about. The mindset that lead to this recession is.

A typical way of life in the modern civilized society can broadly be broken down to the following steps. First, pre-school and school stage, very much innocent and not worth any attention for the time being. And then the college follows. Oh yes, the carefree days. And that is the critical stage in a person's life because the decisions made now, have the greatest impact for the rest of one's life. Sadly, as a rule of society that is when a person falls in debts. You see, it is hardly possible to get away otherwise, at least for most of us. To study, you need a student loan, to get a car you need a car loan, to have a home you need mortgage. There's no other way, yes, but that's the end result we see, but where did it start.

The initial mindset of the society is to blame. You see, getting credits and loans has grown to be a reasonable way to so called financial freedom. And who cares, as long as you can put them away for tomorrow, you can be in debts for the next 50 years. That's what it's all about, after all, to put away the debts for tomorrow while reaping the benefits today. A loan for financial freedom -- an oxymoron in itself which unfortunately has grown into our blood. What kind of freedom is that?

The answer is only one, and it is being cautious since the beginning. If you're already deep in debts, you're a history, but you can teach your children and what way better than showing the right example. Stop taking loans just to fall even deeper in debts, shred your credit cards, give up your car and get a bike. Stop and think what your life has become since you took your loan for financial freedom, and don't let your children make the same mistakes!