Debt Now – Pay Later

Some people are forced to go into debt…by health or family crises. By disasters. By any number of disturbing events in the universe. This column is not for them.

It is for the people who are daily being bombarded by the debt industry…the complex mechanism that wishes to enslave you and to wring as much money out of you as it can before you die. In many cases if you take refuge in the grave it will succeed in squeezing your family to get more money…and you will not be able to stop them.

It is for the people who have a vague notion that they are missing out on something if they do not have the shiny new toy in the KB HiFi catalogue – or the new telephone from the Orange store – or the furniture from the giant warehouse. And who are tempted into having now with the idea of paying later.

In some cases the temptation contains a phrase that tells you there is no payment required for six months – or no interest charged for a year. Be sure that this is not altruism or pity for you – the finance companies and the stores will extract the full measure in time. And in the case of some deals that full measure can be payment two or four times the initial price.

The time to avoid this is at the start. By all means read the advertising flyer before you ball it up and start the chip heater with it. But scrunch it all the same. Whenever you are looking at luxury goods you are looking at a wound – not a bandage. If you did not need them before your read the flyer, you do not need them after you’ve read it either. Be happy with the warm water from the chip heater.

No debt is good and having no debt is better. The people who tell you that you need to enter into it to qualify for more of it are the moral equivalent of dynamiters.

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