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”
“Poverty charges interest,” said American singer Tay Zonday . If you don’t have money to buy toothpaste or a toothbrush , you will pay for the implant next year. This applies even to those with physical disabilities . People with disabilities often pay more for the average distance traveled. In contrast, the costs for the wealthy or non-disabled are cheaper and more efficient than those for others. Weakness is not merely a product of comparing superiority and inferiority. The moment I recognize my weakness, I must keep in mind the price I will pay in the future, and the world must charge me that interest. We often try to forget that this accumulation of poverty interest s makes us poorer. - Joseph’s “just my thoughts”