What if we re-frame how we think about debt and tell the truth?
In our current culture borrowing has become considered completely normal. Which is of course inspired by various clever forms of marketing designed to move us to accepting this. Borrowing enables us to present ourselves as richer and more successful than we currently are. When we look at the image of others we accept their presentation of their financial situation at face value; “they must be doing well because they’re driving the latest BMW, wearing the latest fashion, living in the biggest house, wearing the right watch/shoes……” But in reality many people use debt to enable themselves to present a false image. In reality they may be stretched to breaking point with hardly anything left to spare at the end of the month.
Buying things using debt is basically lying. It’s pretending that we have enough money to buy something when in fact we don’t. What if we look at others through this lens “oh they’re not doing very well because they’re lying that they can afford the latest BMW/house/clothes….they’re 20k worse off in car finance and credit card debt.” What if we stop being sucked in by the image of shiny new things and actually see the long-term financial situation behind them. Imagine how much we could improve our own financial situations if we stop lying to ourselves and others by only buying things that we can actually afford. We might not have so much “bling” but we’d probably have a lot less stress and in the long term we’ll end up better off.