|
|
|
 |
 |
 |
||
|
|
||
|
There is another 'big bang' coming. This next big bang is not universal in nature. The next big bang will be financial in nature. Pretend Profits.We are already seeing the effect of businesses who have built themselves, or survived and grown based on debt. Business who survive on debt appear to be high flyers during the boom times when they can service their debt, but when the economic circle turns, as all economic circles turn, these businesses no longer generate sufficient income to service their debt. Initially these businesses lay off a few workers, and sell off some assets which enables the businesses to survive in the short term, but eventually the short term solutions fail one after the other, and the bubble bursts and the business fails. We are seeing this pattern over and over again with businesses of various sizes at this time. It is the strong companies, who do not have substantial debt to service, and who have not been generating pretend profits, with smoke and mirrors as they build up debt in the background, which will survive. Live Now and Pay Later.As we now see businesses failing because they do not have sufficient income to service their debt, we are also beginning to see families who are falling apart, because they are unable to service their personal debt. As the current 'live now pay later generation' ages, and begins to face the reality of being forced from the workforce, more and more families will fall apart, because families can no longer service their debt. The reality is that many of us 'live now and pay later', except that we never pay beyond the interest and charges of the money lenders. We will usually pay the minimum amount that we are required to pay, because we need our salary to live on. In the meantime we create more and more debt as we perpetually borrow against ever increasing limits, until we reach a point where we will never be able to repay our debt, regardless of how long and hard we work.
|
||
Selling Ourselves. |
||
|
We effectively sell ourselves a little at a time, until we are owned by the money lenders and we work for the money lenders, perpetually paying interest and fees, but never reducing our debt or buying ourselves back. The previous generations for the most part, paid their way, with sacrifice and patience. However, ideas such as paying cash after putting a little aside each week, or being patient whilst we pay a little off a lay-by each week, until we have paid for whatever it is we want, are old fashioned ideas, which have no place in the 'me now' society of today. The problem which is coming, is that the 'live now pay later' generation is aging. What will happen when the 'live now pay later' generation retires, and can no longer service their debt? How many retirees will face foreclosure (if they have not already experienced foreclosure, in this difficult economy), because they can no longer service their perpetual debt? When the era of foreclosures against retirees begins, where will the retirees live? How will retirees live? Who will survive the next big bang when the 'live now pay later' generation retires from the work force? Certainly not the 'me now' generation who have their own debts to service, and certainly not the morally bankrupt money lenders. |
||
 |
||
No More Debt. |
||
|
The best thing that we can do is to resolve not to incur any more debt. If we are working at the moment, we need to focus our efforts on paying our debts beyond the minimum amount to cover fees and charges. We need to buy ourselves back from the money lenders. We need to pay our debts down, and we need to, if possible, become debt free now, whilst we are working and can pay our debt down. If we want or need anything we must pay cash, and if we do not have sufficient cash, we need to either put a little aside, until we do have sufficient cash, or we need to put the item on lay-by and be patient. We are far better served by waiting a few months for something that we want, savouring the anticipation with each payment that we make, and obtaining the multi benefit of owning whatever we have bought, and having what we have bought as a permanent reminder of our patience and hard work, than we are by using credit. The benefit of using credit is having what we want within days, but because we have not obtained whatever it is, as a reward for patience and hard work, we do not have a full appreciation of whatever it is, and we will usually quickly loose interest and want something else. In the meantime, we will pay many times what the item is worth, and work for many years to pay for whatever we wanted, for no reason other than we were not patient. |
||
 |
||
|
We may feel that we can service our debt, and that we will always be able to service our debt, but if we look around us, within our own communities we will see the plight of many who could service their debt when they had employment, and who suddenly lost their employment. The truth is that most people who are in debt now, will never pay those debts in their lifetime because of the interest, charges and penalties. However, the banks do not want us to pay our debts, the banks want us to keep paying interest, charges and penalties. We need to ask ourselves if we were to lose our employment and remain unemployed for say two years, could we service our debt? If the answer is no, we have too much debt. |
||
Create A Freedom. |
||
|
If we live without debt, we create a freedom to survive even if our circumstances change. Often when we find ourselves unemployed we can find a way to maintain our rent, or our mortgage, but our debts, our credit card debts and our loans for cars and so on, overwhelm us. Another problem that we have, is that when we have a life filled with debt, there is little room for anything else. We become so consumed and worried by our debt, that we blow any other difficulty that may experience out of proportion. We loose our ability to enjoy our employment, because we work not for ourselves, at any level, but for the money lenders who own us. We do not enjoy our employment, and we feel trapped, which in itself places us at the centre of negativity. Our negative attitude towards our job is noticed by our employer, or our supervisor which can influence decisions at the time of downsizing. Our negativity is noticed by, and creates a strain on our relationships with our family and friends. Often we end up living on the edge of our own world, attempting to absorb the pressures of our debt, and all of the associated problems which our debt incurred stress has created. Many have experienced that a single event can collapse our world, and we find ourselves overwhelmed by debt. |
||
 |
||
|
When our world collapses we will often loose our job, our family, our home, and our hope in any order, but in quick succession as our world collapses, like a house of cards. We may well find ourselves standing in the ruins of our world, wondering 'what happened'? When we are overwhelmed by debt, we find ourselves desperate, and surrounded by negativity, which makes it harder for us to crawl our way out of our hole, through finding employment, because we generate a negative vibration, which is unattractive to potential employers. The saddest aspect of our predicament when we are unemployed and drowning in debt, and often estranged from our family, is that our environment is an environment, which we have created ourselves through attempting to take an easy path by incurring debt to have everything now. We can create a freedom for ourselves, a freedom to survive if we recognise the pattern, and focus ourselves to remove our debt now, whilst we are capable of removing our debt. It may take us a few years to eliminate our debt, and buy our freedom from the money lenders, but if we can achieve this goal, and maintain our financial freedom from debt, the remainder of our life will take on a different perspective. |
||
 |
|
 |
|
 |
||
| Copyright
permission is seldom withheld. |
