Debt and bankruptcy are two words most people frown upon. After all, debt is usually the cause of bankruptcy followed by an excuse of a lack of income. I look at debt as a key motivator. Debt is something that has driven me to work harder. Without debt, I would ironically feel a little empty making money because it doesn’t take much to make me happy. Before buying rental properties 10 years ago, I sometimes questioned the point of working one’s entire life away. It felt pointless logging onto a computer screen just to see your savings go up.
When you are single, you really don’t need that much money to survive. Even in big cities like San Francisco, Manhattan, London, and Tokyo, $45,000 is enough to live a happy life as a single person. There’s only so many fancy meals you can eat a year before you start getting sick of eating out. Your Macbook and gigantic big screen LED TV should last you at least 4 years. Meanwhile, the ladies love guys with bus passes since it shows that we are enviro-friendly and keep it real! A black Porsche 911 Turbo is so 2007.
So how does one go from a happy life to utter financial ruin? Getting obnoxiously way over our heads in debt, that’s what.
BE CAREFUL WITH DEBT, IT MAY GET YOU DRUNK