In the first post in the series, I started talking about budgeting and the impact it had on my life. In this post I’m going to talk about debt. As Daniel Kahneman says, “money does not buy you…happiness, but lack of money certainly buys you misery”. My grandmother always warned me against debt. For as long as I can remember, she spoke of it with the disdain you would expect when discussing murder or arson or high fructose corn syrup. So early in my adult life, I refused to get a credit card. I paid for everything with a debit card, straight from my bank account. That worked for awhile. But then there were bigger purchases to make. A car, tuition, a wedding, finally a house. And nobody pays for those things in cash right? Everyone has student loans. Everyone has a car payment. Everyone has a little bit of credit card debt.
And that’s how it got out of hand.