Re:After the Bitcoin Boom: Hard Lessons for Cryptocurrency I...
by freeflight on Tuesday August 21, 2018 @03:25PM
(#17812865)
I've realized that not having any debt seems to be the exception rather than the norm, even tho I'm not even from the US.
But it's not that big of a mental jump to make, isn't college education also a kind of long-term gamble with debt? You take on huge debt to get an education that will maybe allow you to make a high enough income to pay back your debt in a reasonable time.
For some that gamble pays off, for others, not so much.
As a personal anecdote: I'm far from being wealthy, but I've always made sure to never have debt. A very good friend of mine, only a few years older, is right now going through personal bankruptcy due to some rather adventurous choices in his younger years.
But he still doesn't seem like he's learned anything. When talking about potential financial investments he always treats me like I'm some kind of millionaire as my good credit history, and meager savings, could easily get me very high loans.
It's like some people see their total credit limit, across several institutions, as their actual own capital in a very naive "As long as somebody is gonna give it to me, it's mine!" way.
But it's not that big of a mental jump to make, isn't college education also a kind of long-term gamble with debt? You take on huge debt to get an education that will maybe allow you to make a high enough income to pay back your debt in a reasonable time.
For some that gamble pays off, for others, not so much.
As a personal anecdote: I'm far from being wealthy, but I've always made sure to never have debt. A very good friend of mine, only a few years older, is right now going through personal bankruptcy due to some rather adventurous choices in his younger years.
But he still doesn't seem like he's learned anything. When talking about potential financial investments he always treats me like I'm some kind of millionaire as my good credit history, and meager savings, could easily get me very high loans.
It's like some people see their total credit limit, across several institutions, as their actual own capital in a very naive "As long as somebody is gonna give it to me, it's mine!" way.