Posted on 09/21/2025 1:53:41 AM PDT by CIB-173RDABN
Imagine being forced to work for years just to pay off a debt. Not because you chose the job, but because you had no other way out. This was the life of an indentured servant—a person who signed a contract to work for several years without pay in exchange for something they needed, like passage to America back in the 1600s or 1700s.
It sounded like a fair trade. But the truth was, once you signed that contract, your freedom was gone. You were stuck working off your debt—no matter what.
It might sound like something from a history book, but a similar trap exists today.
It’s called debt.
When you turn 18, companies start showing up like friendly strangers with candy.
“Get a credit card now!”
“Split it into four easy payments!”
“Buy now, pay later with Affirm, Klarna, Afterpay!”
These offers are everywhere—on your phone, in your email, at checkout when you’re shopping online. And they sound great. You get what you want now, and you don’t have to worry about paying until later. No big deal, right?
Wrong.
Credit is not free money.
It’s borrowed money—with interest.
Credit cards typically charge 20% or more in interest if you don’t pay off the full balance every month. That means a $100 purchase can quickly turn into $120 or $150—or even more—if you let the debt sit.
It gets even worse with cash advances. That’s when you use your credit card to pull out cash, like at an ATM. Sounds convenient? Here’s the catch:
So if you're in a tight spot and think, "I’ll just get a cash advance to cover me this week," think again. You could be digging yourself into a hole that takes months or years to escape.
Most people don’t stop at one credit card. Maybe the first one gets maxed out, and instead of paying it off, they just open another. And then another.
It’s easy to think: “Well, I’ll just spread things out. I’m managing it.”
But here’s what’s really happening:
It’s like trying to empty a swimming pool with a spoon.
Here’s something most people miss:
Every credit card statement now has a warning box, required by law. It shows:
Take a few minutes each month to read that box. It’s a reality check—sometimes a scary one, but necessary.
Even better: do a credit card inventory:
Awareness is the first step to getting out.
Companies like Affirm, Klarna, and Afterpay look like helpful tools—but they’re built to make you spend money you don’t yet have. They profit when you struggle to keep up.
The same goes for payday loans, which are some of the most dangerous financial products out there. These short-term loans target people who are desperate and promise quick cash—but with interest rates over 400% in some cases. It’s legal robbery.
Before long, you're working just to make payments. Your money isn’t yours anymore—it belongs to the credit card company, the loan service, or whoever you owe.
That’s not financial freedom. That’s modern indentured servitude.
Here’s something they won’t advertise: you don’t have to buy it right now.
That new phone? Those sneakers? That concert ticket or weekend trip? It’ll all still be there later. You can wait, save, and pay with your own money.
When you do, you avoid debt, interest, stress, and regret. You stay in control.
It might feel slow, but it’s the fastest way to real freedom.
You’re not too young to take control of your money.
Every smart decision you make now is building the life you want later. Avoiding debt doesn’t mean you’re missing out—it means you’re refusing to sell your future for a quick fix.
Remember: the system is designed to get you in debt. That’s how they profit.
But you? You don’t have to play that game.
You can choose freedom.
Honest - I added “vanity” to the source. Sorry.
Might I add: Have a like minded partner to save with.
[I was surprised how much more I had once the ex and I parted...]
I try to do things as close to the Dave Ramsey way as possible. Debt free, only buy old used cars for as near to cash as possible and I generally avoid maintenance headaches by only buying Toyotas or Hondas. Screw everything else.
Debt isn’t bad.
I got a VA backed loan to buy a house.
I borrowed money to get a vehicle, so I could get reliably to work.
What I never did was use credit cards to buy crap, I could not pay for right away.
I have zero credit card debt.
At my age I own everything.
houses, land, cars and pensions.
All because I didn’t waste my money
on “fashionable” purchases.
Plus I married a woman That is very
conservative in matters of money.
She was happy, but irritated when
I bought her a 2025 Pickup.
She picked it out.
We paid cash.
Debt isn’t bad.
—
Agree, if you are buying something of value. Going into debt for a fast food meal, over priced tennis shoe, vacations are all bad.
I did not even mention student loans, those are perhaps the worse of all debt. The thought of being 23 or 24 owing $100,000 dollars for a piece of paper that has no guarantee you will even get a job is just plain crazy.
_____________[
From “The International”
Credit is well used to buy a house or a needed car. Never using credit to pay for anything that does not last as long as the debt is a good rule. For example, one should save in advance for vacations and restaurant meals. Using a credit card for its benefits and paying the entire amount every month is the same as paying cash.
I wish that Trump would talk about the interest that our taxes pay on the USA debt. The USA sending money all around the world for useless wars and humanitarian gifts ( often corrupt) is like getting another credit card to cover the interest on your old credit card. Trump keeps saying that we are going to be a rich country. Americans have a lot of spending power but government wise, it is all based on borrowing.
I spent over 5 years in the Military.
They and my civilian employer funded my VERY expensive education, which allowed me to retire at age 55.
I’m going on 70 now and make way less than
average American family wage.
But I own my property and have no debt.
I live in rural Hawaii, but have excellent Medical
since most my neighbors are really well off
and want good hospital care.
VA pays my medical, my wife gets Medicare advantage.
which I pay for.
My point is when you are young you just don’t
wonder into the system and expect lifetime support, Y’all have to earn it.
Be it Military service or years of paying taxes.
Just a last note; Thank God that most people that
go in the military don’t killed or disabled.
I’m disabled, not badly, but I’ve had to live with the pain
for 50 years, I’d do the same job again.
They need to bring Home Economics back to high schools as a required course and make Financial Management a required course.
Students need to crawl out of the crib before they can sprint.
First—they need to be taught that math is not racist. It is important for every human.
Second—they need to master basic math and basic algebra.
Then—they can actually learn something from a personal finance course.
They need to bring Home Economics back to high schools as a required course and make Financial Management a required course.
Some degrees (like anything with the word “studies’ are worthless.
The sad thing is many of these degrees are for things degrees are not required. Photography and Film as an example. Also, many of these student would be better off going to a community college to get a lot of their basic requirements taken care of at a fraction of the cost.
Enroll them in Dave Ramsey class.
There’s nothing new about young people getting into debt.
A few decades back a young lady got a new job. She was so thrilled she went out and bought a new car and new trailer house. Once the payments came in, she realized she couldn’t pay for it. She went to her new boss and demanded a pay raise.
Several decades ago we were house hunting. We looked at some very new homes. A couple had new boats and RV’s on the front lawn for sale. The owners in both cases were young people that got themselves too deep into debt.
I can count numerous other examples. The problem is not the credit card or loan companies. The problem is the stupid people getting themselves into debt. YOU CAN’T FIX STUPID. These same people will spend their whole lives making dumb decisions. That’s why today there are so many people in their 70’s and sometimes 80’s still working.
We charge everything we possibly can on our cards, even several thousand dollars on new cars and RV’s. We do it for the rewards. We pay these cards off monthly. Our favorite card has a ridiculous payment system. For a $10,000 debt, the monthly payment is only $100. At that rate it’s nearly impossible to pay it off, yet those lacking the intelligence of an amoeba will keep doing it over and over.
Going into debt is like taking the canoe out with the tide and coming back against the tide.
Even if you have a credit card and pay it off in full monthly, you have taken on debt. Even if you have paid cash for homes and cars, that info will filter into the credit reporting agencies as well in your favor...
I bet you do. Have you ever checked?
Bkmk
Debt has been a money trap ever since the world went off the gold standard and every month in the mail, offers for credit cards are shoved into your mailbox.
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