Debt Is Financial Slavery [And How To Fix It]

If you have been an adult for any amount of time, more than likely, you have struggled with finding the right balance with your money. Financial slavery is a term used to describe how our lenders ultimately rule over us. 

Financial Slavery Is A Form Of Control

When you owe money to someone, you are indebted to them. They have control over you, no matter how large or small, they have some degree of financial control over you. 

Debt Is A Form Of Slavery

While this is a strong statement, it is not at all meant to diminish the severity and impact of physical and racial slavery. Physical slavery is by far the worst form of slavery and in no way compares to having debt. 

Debt Is The New “Normal”

According to an article by CNN Money, in 2017, 107 million Americans had vehicle loans. The average monthly payment on those new vehicle loans was $515. 

Debt-Free Living Is Possible – Even For You

Living debt-free is possible if you’re willing to shift your mindset. When we begin to deal with our trauma and messed up past in a healthy way with exercise or therapy, we can stop the out of control spending. 

Can You Really Live Without A Loan?

The quick answer to this question is, “yes!” But let me show you how it’s possible. To live without debt, we need to live within our means.  

How To Escape Debt Slavery

Each month, we should have more money coming in than going out. The extra money should be used for the following: 

– Building An Emergency Savings – Paying Off Debt – Saving For Retirement – Kids College Fund – Building Even More Wealth – Saving For Specific Purposes

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