What is Debt?

What is Debt?

Do not get an extra Serving of Debt

This is the piece I wrote on debt and I wanted to share a different aspect in describing debt to all of you today. Debt is really bad as all of you already know, and possibly you’ve read some debt articles in countless past publications. But what people don’t share on the vast web portals and pages, is that debt doesn’t define you in any way. The personal finance community has a fair share of indebted folks, and they are all truly supportive in helping anyone who really wants to be free of debt, find ways to eliminate the debt monster. What is Debt? Well it is an obligation to pay for something in the future you purchased in the past.

One thing that I continuously hear is can people actually live life debt free. I believe you can, and I am 1 step closer to it every day. The freeing feeling you will realize is the prize, and the gift you give yourself by tackling the immense debt freedom journey until you reach a new financial platform. Many people take the journey for granted but it is that journey that will lay the foundation to help you avoid getting back into debt in the future. I will now do my best to define debt in another financial poem below. Have fun with it and let me know your thoughts.

What Is Debt?

D – Demands on monthly cash flow to pay things back with interest

E – Effective way to maintain the horrible paycheck to paycheck cycle

B – Bound to build up, if you do not get a grasp of it Today

T – The only real way to be free is by living without it aka debt

By focusing on the why you are in debt in the first place question. This can help you find a cure to help you build out of it. A hole is a hole, but if you digged the hole yourself, why not make a ladder to climb out of the hole. We all make holes in our lives for whatever reason, and in that moment take a step back and ask the hard question, am I going to regret this decision tomorrow?

The What is Debt- a Solution 2nd Poem:

D – Determined to not let cash go into creditor’s hands or down the consumer drain.

E- Exactly how banks want you to live, indebted and living a strapped life while they get rich.

B- Because your money is meant for you, not for a credit card company’s profit.

T- Target the life you want today, and halt borrowing for a tremendous life tomorrow.

 

Let me know what you find inspiring about the what is debt poems above?

Also what inspires you to stay out of debt in any way possible in this debt leveraged society?

I had a lot of creative juices flowing through my key board, all on the topic of debt, hence why you have 2 debt poems above. Nothing is free in this world, so keep debt in mind before you make a big mistake once again in the future.

See Past What is links:

Wealth

Savings

Finance

Rich Uncle EL

 


Comments

What is Debt?2 Comments

  1. My favourite parts are the two E lines:
    " Effective way to maintain the horrible paycheck to paycheck cycle"
    "Exactly how banks want you to live, indebted and living a strapped life while they get rich."
    To get out of debt, you really have to be intentional about it. If you "go with the flow", you're going with the norm of debt.

    • Yes I like those as well as it clearly helps people see the downside to having debt. I agree with what you said and having the right focus is half the battle. Good luck
      My recent post What is Debt?

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