“Debt keeps you stuck in the trap of using your future to pay for your past.” --Mary Hunt
It’s a difficult concept to understand. But once you get it you GET IT. When you owe money, when you’re in debt, especially when you’re in debt up to your eye balls, you are unequivocally, without a doubt, spending your future earnings to enjoy today, the now.
If you make $50,000.00 dollars a year and spend $75,000.00 dollars a year you’ll pay the difference of $25,000.00 in future income. Here’s the frightening part. Spend twenty-five thousand dollars more than you make for five years and you’re in the hole $125,000.00 dollars.
I mean really, how the hell are you gonna pay it off? Continue financing? Continue borrowing more than you make? Are you nuts?
There are only three possibilities to getting out of debt. Possibility number one, spend less than you make and use the difference to pay off debt. Possibility number two, make more money. Possibility three, sell assets, do garage sales and what-ever-else to generate extra dollars.
Understand that if you owe money you are mortgaging your future for the past, or the present.
David Dassow
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