In many areas of life, you can look at what the majority of people do… and give serious consideration to doing just the opposite. Personal finance is one of those areas.
Dave Ramsey, the author of The Total Money Makeover and the creator of the Financial Peace University program says “normal is broke”. He is right. The normal American family is deep in debt and has almost no money to show for all their hard work over the years. Most are living paycheck to paycheck.
Most of your friends have student loans… and they probably will for a long, long time to come. They have bought into the myth that dragging their debt out over their working life makes good sense.
“A small monthly payment makes my student loans more affordable. It makes it easier to manage my student loan that way.” That’s how your friends are being taught to “manage” (drag out) their student loans. It’s bulls@$! It’s not the ticket to financial freedom in life.
Having Money
One of the reasons so many people are broke has less to do with money itself and more to do with how people view their money and their debt.
I’ll show you why this is true in my next post.
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