Being in debt means using up the future in the present. Essentially, it’s about how we manage our time. Therefore, the most valuable resource for debtors is time, and it depends on which side time favors. Paying off debt is like repaying borrowed future time early. When the ability to generate wealth over time decreases, the future time becomes a burden, and the debtor faces the pain of bankruptcy. Taking on debt is costly. It may seem like borrowed money is repaid with money, but the irreplaceable resource of time is also returned along with interest. With the rise of postpaid credit cards as a common payment method, we’ve become less sensitive to the associated pain and cost. There are two ways to spend money: using present time or future time. The costs and pain are much higher when the future is spent as if it were the present. - Joseph’s “just my thoughts”
It's not a generation, it's a world. The older generation thinks that Gen MZ is a different generation, but when you look deeper, you realize that the world has changed, not the generation. The older generation thinks that the offline world is more experiential and tangible, and the MZ generation is more familiar with the online world, so they regard it as a non-experiential generation because they are more indirect in human relationships and understand the offline world mainly through information. However, try going to an online shopping mall site. Suppose you want to choose clothes on a fashion site. In that case, there is nothing more real and experiential shopping than others, because not only do they display detailed fabric information and sizes, but they also have good photos of the information you can see, and even reviews from users who have already bought it. Who can do detailed and specific shopping in an offline shopping mall like this? In fact, the electronic world ...