The Shame of Debt
Up until about 60 years ago, borrowing money was generally frowned upon by society. Even today, nobody likes that one "friend" that always tries to mooch cash off you. Borrowing puts you in a place of disadvantage. The rich rules over the poor, and the borrower is the slave of the lender. —Proverbs 22:7 Why, then, is consumer debt so prevalent today? Partly because businesses are really good at marketing instant gratification. You need it now. With college students being told that student loans are normal, everyone being mailed credit card offer after offer promising low interest rates and high credit limits, and car manufacturers enticing would-be car owners with zero-down delayed payment plans, it's no wonder that everyone has so much consumer debt. Marketers have done a fantastic job at normalizing it.…