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Climbing The Ladder To Financial Independence

Personal_Finance / Debt & Loans Jun 10, 2017 - 05:12 AM GMT

By: Boris_Dzhingarov

Personal_Finance Get Out From Under Debt’s Thumb
You know what makes you really easy to control? Debt. Taxes are hard enough, but if you’ve got debt on top of taxes holding you down, you’ll be stuck in some low-end job for the rest of your life. And, believe it or not, that may just be the idea. If you’re stuck in a downward financial spiral, you can never escape the debt net.

Think critically. How much money will you make throughout the course of your life? Well, if you’re pulling down $2k American monthly (£1,540), then over the course of a year you’re looking at $24k (£18,480). If you average that rate for sixty years, starting at age 18, when you hit 78, you’ll have earned $1,440,000 (£1,108,800).

For decades—centuries, even—those in positions of power have considered you chattel—human livestock. Making under twenty-five thousand a year in the US or UK is enough to put you in the lowest echelons of the middle class--the poverty level for a single person is about $12k. Even at $24k/year, your life’s worth more than $1,000,000.

The elite’s thought has always been: how can we get the most money out of these people? The answer? Bread and circuses, as the old saying goes. They offer you food, and entertainment. They offer regular people the chance to live beyond their means if they just take out a loan.

Now don’t get this mixed up: there are many scenarios where taking out a loan makes a lot of sense, and is even a wise choice; but you’ve got to be able to pay it off before interest starts setting in. Depending on existing credit, or whether or not you can get someone to cosign for you, you can get a loan where interest doesn’t set in for a year.

Don’t Live Beyond Your Means

Unfortunately, for the most part, people don’t understand that the bread and circuses offered are only there to entice a citizen such that they seek to live beyond their means. Almost everybody has dealt with debt at some point, and what are they doing? Through interest, they’re funneling the majority of their wealth toward financial slavers.

The key to getting out, if you find you’re under the thumb of these people, is to figure out what you actually owe, and work double-time to pay that off. To that end, consolidation can help lower your interest rates in some cases, and at the very least will help give you an idea of how dire your situation really is.

According to, a company that helps clients wondering how to apply for a debt consolidation loan online, among other things, “Applying for debt consolidation can help you repay outstanding bills and reduce your monthly payments.” Organizations like this assist individuals dig their way out of debt.

When you can dig your way out on your own schedule, taking the first step from the comfort of your own home, it’s possible to get the ball rolling whenever it is most convenient for you to do so. This is important because the prospect of looming debt can be so discouraging most never do anything to escape it.

Yet you must. Not only for your own sake, but for the sake of your relatives both directly and indirectly (as death can transfer debt),as well as for the sake of society in general. Allowing debt to take you down puts the power in the hands of those who have too much already. So take it back through consolidation.

By Boris Dzhingarov

© 2017 Copyright Boris Dzhingarov - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2017 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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Catching a Falling Financial Knife