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”
People can’t think that ‘deficiency’ is a ‘resource.’ While many equate deficiency with ‘lack and shortage,’ it should actually be viewed as ‘emptying what needs to be emptied.’ How can we fill something good without first emptying the bowl? Deficiency is by no means a disadvantage. Instead, the lack of resources, termed ‘deficiency,’ can often be satisfied with what we already possess rather than something new. Stay hungry! - Joseph’s “just my thoughts”