Smart Comments NOT

I get a lot of smart comments from people telling me I’m full of it. Well, I’d rather be full of it for suggesting you go against the grain and being a contrarian than being a conformist, an eighty percent(er).

I admit it’s not cool unless you borrow money. It’s not cool unless you owe money so you can “have it now”. My approach is different to what society tells you. The recent bail out has a fundamental flaw.

The flaw is this notion that consumers and business need to borrow more money to keep the economy going. The reality is you’ll need to pay the money back some day. You can’t borrow forever.

At some point you’ve got to pay it back.

This idea that businesses need or should borrow money for payroll is a bad idea. You have got to be able to maintain your normal bills without borrowing. If you have to borrow for the essentials you’ll go under relatively quickly.

The answer is to change your mindset with a 3 step approach to changing your habits and what society wants you to do and becoming debt free. Step one, stop borrowing money. Just stop it now.

Step two, pay down enough money so you can at least comfortably pay your bills. Step three is to pay off all your debt…and I mean all your debt including cars and your home. If you owe no money you can do what nobody else can do…you can also be generous.

Because CASH IS KING! When you have cash you have power. When you owe money you are powerless. Purchasing with cash is contrarian thinking. But, while everybody else is forced to stop spending because they owe more money than they can pay back you’ll have the ability to do what they can’t do.

The old saying is if you’ll do what no body else is willing to do now you’ll be able to do what nobody else can do later on.

David Dassow