|Freedom or Debt|
Often I have people ask me on the street what this means. You see, I have this written on the back of my car in rather large print.
It's pretty simple really. The more debt you have, the less free you are. It's as simple as that.
You may argue that with credit, or debit you are able to purchase things that you would otherwise not be able to afford. While this is true, it chains you to your creditors. This is a very bad thing if you ask me.
Owning something on credit is not the same thing as owning it outright.
If you have a car loan then you do not own your car. The bank does. Depending on your contract, they can take the car away if you fail to make even one payment. How is that for ownership? It's not.
Imagine a man who bought his house and car on credit. What happens if he loses his job for some reason? He is likely to be out of a place to live, and a way to get to another job. This is a serious issue.
With the way most people in this country live paycheck to paycheck credit becomes very dangerous. The scenario above is quite likely to happen, and does happen all across America!