Lifestyle > Train of Thought
The borrower is slave to the Lender
Trauma-san:
How many of you have caught this concept? It's in the bible; "The Borrower is Slave to the Lender".
I'm never, ever, ever going to borrow money to buy something again. When I was in High School, I borrowed money from my dad to buy a car. When I was in College, I borrowed money on credit cards to just fuck off and do whatever I wanted. Years later, I ended up owing 16 thousand dollars in College Loans for a degree I don't even need to use, and 12,000 dollars in Credit Card bills, with not 1 thing to show for it.
Today, I have it knocked down to the college loan and 1 credit card, and I hope to pay the credit card off in about a year. I'm never, ever borrowing money again (with the exception of a house). It's great not having any payments. I feel free.
People that have 4 or 500 dollar car payments are fucking crazy. You're a slave. You don't even own the car, the bank does, you're just paying them 500 a month to ride in the fucking thing. Rent a cab, it'd be cheaper.
It just shames me to see so many Americans making the mistake of borrowing money. Consumer debt is up to an alltime high, like it is each and every year; higher, higher, higher. Drop that shit and own what you have. The only way a bank makes money is on YOUR money. Make money on your own money, dont' let somebody else have it.
M Dogg™:
I feel ya.
I am at 32,000 for college loans, and 3,000 for credit cards. My car is still being paid for, and it's hard starting off when you are in debt. When the Great Depression hit, the main cause was everyone borrowing money, and not being able to pay it off. Borrowing money is a very dangerous thing, and should always be done responsibly. Once I get my full time job, I should be straight, but the Lord knows it's a long road ahead.
smerlus:
i can't complain about credit cards...i found one that i loved and i stick with it...
it's a credit card availavle to Navy personel, $5000 limit and a minimum of $1 payment a month, and as long as that $1 is paid, there's no interest 8)
plus with financial aid and the GI Bill, i don't ever have to pay for college, in fact i get extra money in my pocket for going to college...
but you do have a good point, i never go on a payment plan for anything...if i don't have the money for it right there, then i can't afford it
Loganism:
--- Quote from: I Just Wasn't Made For These Times on April 11, 2004, 08:53:43 PM ---How many of you have caught this concept? It's in the bible; "The Borrower is Slave to the Lender".
I'm never, ever, ever going to borrow money to buy something again. When I was in High School, I borrowed money from my dad to buy a car. When I was in College, I borrowed money on credit cards to just fuck off and do whatever I wanted. Years later, I ended up owing 16 thousand dollars in College Loans for a degree I don't even need to use, and 12,000 dollars in Credit Card bills, with not 1 thing to show for it.
Today, I have it knocked down to the college loan and 1 credit card, and I hope to pay the credit card off in about a year. I'm never, ever borrowing money again (with the exception of a house). It's great not having any payments. I feel free.
People that have 4 or 500 dollar car payments are fucking crazy. You're a slave. You don't even own the car, the bank does, you're just paying them 500 a month to ride in the fucking thing. Rent a cab, it'd be cheaper.
It just shames me to see so many Americans making the mistake of borrowing money. Consumer debt is up to an alltime high, like it is each and every year; higher, higher, higher. Drop that shit and own what you have. The only way a bank makes money is on YOUR money. Make money on your own money, dont' let somebody else have it.
--- End quote ---
you're right, but that's how our capitalistic society works. go to sweden.
Trauma-san:
NO, that is NOT how our capitalistic society works. That is how people choose to use, our capitalistic society. As a matter of fact, if you live in this capitalistic society without incurring debt, you have the opportunity to earn a SHITLOAD of money. When you're in debt, though, the SHITLOAD of money is what you're throwing away each month in interest fees.
That Navy Card sounds like a good deal, Smerlus. Just be sure not to let the temptation lead you into buying shit you don't need or can't afford.
I saw this guy on fuckin' MTV the other day, on Punk'd. They were trying to act like he stole some money, or whatever, and he made the comment about how he bought his car "My Daddy always said, if you can finance it, you can afford it".
I felt like jumping through time and smacking his daddy in the fucking mouth.
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