I understand the importance of living frugally and within ones means. However, shit is hitting the fan for a lot of people and even those who are responsible are having to get creative.
Are we counting on "The Great Reset?" The biggest FU to the banks, go down with the ship? With interest rates at stupid numbers and a financial collapse every 10 years, what the actual fu*k?
Whats the endgame?
Like most people my credit card debt is a result of predatory interest rates, constant inflation and underpay/underemployment.
I don't live like a king, I pinch my pennies but when the heating oil tank needs filled and it's 30 degrees out it's gotta be done.
Even a lower interest rate would make repayment a breeze. I've been doing better with it since I was able to consolidate to fixed interest repayment loans but still a lot of what I bring in goes to debt
It'd be nice to get some kind of solution
I am one of those people. I was mocked while working on paying off all debt. How stupid I was to pay everything off. Use people's money and so on. I understand the numbers. I also understand how using other people's money can make you rich. What I can tell you is this. Paying off all your debt may not make you rich, but It will make you free.
I payed off everything last March. I wiped out most of my savings and I am now rebuilding those savings. I still use a credit card but I pay it off every month. I am really just using my credit card as an extenstion of my checking account.
Once you buy into the process of paying everything off it becomes a game trying to figure out ways of paying down debt even faster. You quickly realise that all the things they are selling on TV, magazines, wherever are not things you really need. Those things are just something for people that are not happy with their life and they are buying silly things trying to find happiness. The deeper their debt the more silly things they want to buy to feel better.
Life.
Not freezing to death is a good reason. FFS