Author Topic: How to avoid debt slavery (Read 1124 times)

Matthew · « **Reply #1 on:** February 12, 2007, 06:38:48 PM »

Amen!

Here is a good quote for ya --

"The Bible calls debt a curse and children a blessing; but in our culture, we apply for a curse and reject blessings. Something is wrong with this picture." - Doug Phillips

Kephapaulos · « **Reply #2 on:** February 12, 2007, 07:20:52 PM »

It is unjust that I have to pay interest on my school loans, but it is an evil I have to deal with now. I have been taught though that you need a credit card so you can get good credit history to buy a home? Then again, I think now that one can get credit by simply paying any debt in good time.

Matthew · « **Reply #3 on:** February 12, 2007, 08:48:05 PM »

Yes, it is true that you need to use a credit card to build up a credit history -- but you can pay off the balance every month, so you pay no interest.

Matthew

student · « **Reply #4 on:** February 12, 2007, 09:17:25 PM »

I have to say I think this article is ridiculous. You get out and stay out of debt by not spending what you don't have. I'm on my second degree, have no debt, never have, and keep a credit card only so i can buy online, paying it off by the end of the month. Simple.

MaterDominici · « **Reply #5 on:** February 13, 2007, 11:21:42 AM »

Quote from: student

I have to say I think this article is ridiculous. You get out and stay out of debt by not spending what you don't have. I'm on my second degree, have no debt, never have, and keep a credit card only so i can buy online, paying it off by the end of the month. Simple.

How do you pay for a house? I think it's where many people get lost in a pattern of debt if they weren't prior to that.

CampeadorShin · « **Reply #6 on:** February 13, 2007, 02:09:32 PM »

Also, read Chesterton's and Belloc's (Chesterbelloc's) works on economics.

They write from Catholic perspectives.

CampeadorShin · « **Reply #7 on:** February 13, 2007, 02:11:59 PM »

Distributism could solve most of society's economic woes.

http://Distributism.com/