Being in debt means using up the future in the present. Essentially, it’s about how we manage our time. Therefore, the most valuable resource for debtors is time, and it depends on which side time favors. Paying off debt is like repaying borrowed future time early. When the ability to generate wealth over time decreases, the future time becomes a burden, and the debtor faces the pain of bankruptcy. Taking on debt is costly. It may seem like borrowed money is repaid with money, but the irreplaceable resource of time is also returned along with interest. With the rise of postpaid credit cards as a common payment method, we’ve become less sensitive to the associated pain and cost. There are two ways to spend money: using present time or future time. The costs and pain are much higher when the future is spent as if it were the present. - Joseph’s “just my thoughts”
The scariest people in the world are those who truly know themselves. It may sound easy, but few understand what they excel at and what they prefer. The same goes for occupations. Someone may seem to know their job well, yet they might not fully grasp what they’re doing. What potential exists—whether the job is suitable for the times, if you’ve chosen the wrong market, or who the right partner is for you? The fact that many rarely start by understanding themselves means they often spend time without gaining much insight, even as they struggle hard. - Joseph’s “just my thoughts”