Debt is a form of bondage or slavery to a person or institution.
Debt means that you are not free to do what you would like, but have to do what your debtor demands.
Never in the history of mankind has there been more debt than there is today at every level - government, corporate & personal.
Some forms of debt are worse than others: Worst - consumer debt & debt on a depreciating asset. Debt on an appreciating asset can sometimes be acceptable.
The power of marketing, keeping up with the Jones' and instant gratification often will get people into debt in the first place.
The power of compound interest working against you via debt will destroy you 9 times out of 10.
Action:
Get out of debt as soon as possible.
Start with worst forms.
Approach your creditors to agree on a repayment settlement you can afford.
Use the power of compound interest, patience and contentment to save first, then buy with money on hand.
