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”
The human brain is controlled by the unconscious mind. Voting to increase US school funding usually gains more support in schools than in churches. Conversely, votes on abortion in churches are often more opposed than in schools. When asked if the location affected their decision, voters often dismiss it as nonsense. Humans don’t realize that their behavior is driven by the unconscious. For example, if someone is holding hot coffee during a meeting, they are more likely to see me as warm. If they have iced coffee, they might see me as cold. This is based on studies in cognitive psychology. We are motivated by the unconscious, even if we don’t admit it. - Joseph’s “just my thoughts”