Breaking Free of the Debt Myth: A Manifesto for a Debt-Free Life

By Jackie Beck   Updated 02/14/2022 at 2:38 pm

Once upon a time, people paid for the things they bought with money or goods and services offered in exchange.

Once upon a time, when people had an emergency, their friends and neighbors stepped in to help, or they relied upon their own creativity and resourcefulness.

And once upon a time, people believed that they could get ahead in the world based on the sweat of their brow and the brains in their head.

But as time went on, something happened to us as a society.

We heard the allure of no money down and six months 0% interest, and were tempted. So we bought and bought, as our impatience increased. Soon, debt became a way of life. We got sucked in, and without noticing, the way we perceived debt changed.

We began to believe that debt was a solution instead of a problem. We thought of it as a status symbol, comparing the colors of our credit cards. We thought of it as the way to get what we wanted.

Along the way we lost faith in ourselves and our abilities, and learned to depend on debt.

Now you’ll hear things like “you can’t go to school without debt” or “you can’t get ahead without debt & leverage”.

But those are lies.

We can stand on our own two feet. We’re capable, hardworking, and smart. When an emergency happens, we’ll rely on money and our own resourcefulness to take care of things. We won’t turn to debt in desperation, or at the first little hiccup life hands us.

When we want to buy or do something, we’ll plan ahead and make it happen — and we won’t feel guilty about it afterward or spend years paying extra for the privilege. We’ll work for ourselves and our future, not for the credit card companies and banks.

We’ll teach our children how to handle money. We’ll own our things, for real, and we’ll feel good about it. We’ll be surprised at just how much money we have available to spend, give, and invest — when it’s no longer going to debt and interest.

Breaking free of the debt myth means changing our beliefs. It means pulling back the veil of misinformation and hype to get to what’s real.

What’s real is that we don’t have to depend on credit.

We can depend on ourselves.

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4 thoughts on “Breaking Free of the Debt Myth: A Manifesto for a Debt-Free Life

  1. Good article. The biggest problems related to debt in my opinion are the attitudes related to debt. They are “the justification for overspending because you don’t have to pay now” or “Things will be better in the future and I will have the money to pay them back”. Unfortunately we have become and instant gratification society and the easy access to credit has only expanded this.

  2. I agree Jackie, Our society thinks it is normal to be in debt now. That being out of debt is the crazy life.

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