DEBT-SLAVERY

[Anonymous No.994426]

What can we do to end debt-slavery?

[Anonymous No.994441]

bankruptcy laws have been on the books for centuries man.

[Anonymous No.994446]

>>994426
By not buying things you cannot afford. It's that easy.

No one forces people to buy those new iPhones and cars and "worry about paying it off next year!"

[Anonymous No.994460]

>>994446
wont work since all western states are in debt.
everyone of us pays debts + interest + interest of interest with his taxmoney
where are you from?

[Anonymous No.994462]

>>grow up in a family of migrants from ex Soviet country
>>family had wealth and land and education
>>lost land after nazis and soviet invasion, then occupation
>>couldn't leave country with money, education didn't mean shit in western nation
>>tfw english is bad, not taken seriously, worked for 1 $ an hour cutting grass (it was the 70s)

[Anonymous No.994470]

(continued)

>>years later, work at factory job due to depression in the 70s, end up having kids
>>can't go back to school since you gotta earn that money
>>late night shifts and long hours eventually lead to accidents, cant work
>>lawyers sense bad english, screw them over, insurance lawyer asks vague questions that only require yes or no, bad english leads to misunderstanding and the wrong answers
>>live off government compensation, barely being able to afford house mortgage and food, even though they worked for years and years building up this country

[Anonymous No.994482]

(continued)

>>children grow up, finish highschool at peak of recession
>>no good jobs, only shitty minimum wage
>>go to a university to pursue education, parents cant help, debt
>>finish school, wont get job without car, debt
>>rent a place for 800$ a month or pay mortgage for 1000$ a month, decide mortgage is better in the long run, debt
>>get married, debt
>>have children, bad times? debt

tfw your life starts and you owe over a hundred thousand dollars, your parents could never help you, but you are still grateful to them for raising you in a place with opportunity

tfw your buddies from school had their education paid for by parents and grandparents

tfw your friends get PAID to go to school by proud rich family

tfw your friends had a car bought for them in highschool, and then another as a graduation present

[Anonymous No.994487]

(continued)

now fucking tell me how you can start your life off from the "lower class" without incurring debt... tell me how you can make that money while youre studying the whole time, tell me how you can work more then 10 hours a week without seriously fucking over your future?

you can't... our economy is based on debt, every dollar in our pockets is a dollar owed, even the government is in debt

[Anonymous No.994500]

>>994487
>now fucking tell me how you can start your life off from the "lower class" without incurring debt...
It's easy. Stop buying things you can't afford.
>>go to a university to pursue education, parents cant help, debt
Maybe you can get a scholarship since you're so damn poor. Maybe university isn't for you. No one forced you to rack up student debt.
>>finish school, wont get job without car, debt
How expensive was this car you just couldn't get to a job without? If your answer is "More than 3k" why didn't you buy a cheaper car you could afford. If the car cost less than that why did you need a loan? If all you can afford is an old beater then that's what you should buy.
>>rent a place for 800$ a month or pay mortgage for 1000$ a month, decide mortgage is better in the long run, debt
You should have rented you dumb faggot. Now you have a debt you can't pay off.
>>get married, debt
Literally wat.
1. No one made you get married
2. No one made you spend loadsamoney on getting married
>>have children, bad times? debt
Pic related could have saved you from that problem.

Face it. You did this to yourself. You can live without debt. You just didn't.

[Anonymous No.994504]

>>994487
You can't. One out of ten will take a chance on a business and some of those 10% will succeed. Working for others will lead you on the same path as your parents.

[Anonymous No.994508]

>>994500
This.
>now fucking tell me how you can start your life off from the "lower class" without incurring debt...

You budget, work hard and look to always earn more money.

>go to a university to pursue education, parents cant help, debt

Grants(especially for low-income), scholorships, part time job during school AND working during summer.

>finish school, wont get job without car, debt

Don't need a car in 99% of places where you should be if you're looking for a job anyway. What, your legs, public transport and carpooling doesn't work?

>rent a place for 800$ a month or pay mortgage for 1000$ a month, decide mortgage is better in the long run, debt

Mortgage is worse in the long run, in many ways. Renting is almost always superior except in certain situation.

>get married, debt

Why debt? Oh right because you decided you need $5k diamond ring, $20k on a spectacular wedding with 400 guests in the Bahamas and then a $10k honeymoon in the Caribbean.

>have children, bad times? debt

Why is it debt? Doesn't have to be also you shouldn't be having kids if you're so poor anyway.

[Anonymous No.994862]

Define debt slavery.

When done right, debt can make you very wealthy.

[Anonymous No.994867]

>>994508
>Mortgage is worse in the long run, in many ways. Renting is almost always superior except in certain situation.
Robert Kiyosaki detected.

[Anonymous No.994927]

pay denbts

[Anonymous No.994952]

>>994500

My total bill for college was 13k. That includes 2.5 years of community college and 1.5 years of university.

You don't even need scholarships to do it cheap.

Oh no, other wage slaves will talk shit about you going to a community college, while they are literally contemplating suicide over their financials.

First car was 5k and I drove it for 11 years. It only needed about 3k worth of repairs in that time.

Even if you do it with debt, there's no excuse for having 30-50k+ in student loans, 15k+ for a car loan, and then a shit ton of consumer debt.

[Anonymous No.994963]

>>994500
Not only are you an asshole, you're a dumbass shitty asshole. I'd bet money that a significant amount of money was given to you..

>Maybe you can get a scholarship
Except adult students can't, and it's been established that he was an immigrant. That means no high school transcript, most likely.

>Buy a car less than $3K
Pay $4-5K in maintenance, or buy a $7K car, drive for twice as long, and pay much less maintenance.

>You should have rented
You shouldn't have built equity while throwing money down the drain. Debt is only bad if the equity is negative.

>No one maid you get married
Enjoy dying alone. I've watched a few people do it. They weren't happy.

>No one made you spend loadsamoney on getting married
Faulty assumption. Could have inherited debt when getting married. See above if you think that's a bad idea.

>Pic related could have saved you from that problem
See above. If you don't want a family, fine for you, but most people want a human connection. The average cost to raise a child is about a quarter of a million dollars. 14k a year to help with the math.

[Anonymous No.994972]

>>994508
Ok, let's move on to you.

>You budget, work hard and look to always earn more money.
Guess what, that's what the school was for, dumbass.

>Grants(especially for low-income), scholarships, part time job during school AND work during summer.
The guy couldn't get a job because it was the 70s and everyone still hated Russians. He did work a job, which if you worked 40 hours a week all year would net him approximately $2K. Foreign folks don't generally qualify for grants, and scholarships don't work for adult students with no transcripts.

>Don't need a car in 99% of places where you should be if you're looking for a job anyway.
I live in a town where I make $92K a year. I've only been out of school for 4 years. My commute to work is 15 minutes, and if I walked it would be 4 hours. There is no public transportation. Also, the cost of living is lower here than most of the US. So, it's valid to look for a job here, and yes, you do need a car if you're not a masochist. Also, family matters to some people.

>Mortgage is worse in th
I'm not even going to finish. No it's not.

>Why debt?
Probably inherited it. Sometimes that happens when you don't want to die alone.

>shouldn't be having kids
Not for you to decide. Families matter to people. Being in debt does NOT mean poor. A lot of the richest people in the world have credit lines with open debt.

[Anonymous No.994982]

>>994482
>wont get job without car
>tfw your friends had a car bought for them in highschool, and then another as a graduation present
I know these feels. Around here it's extremely difficult to get a decent paying (>$9/hr) job without a car and license. You're stuck in part-time minimum wage for awhile.

[Anonymous No.994989]

>>994972
>Not for you to decide. Families matter to people. Being in debt does NOT mean poor. A lot of the richest people in the world have credit lines with open debt.

I find it completely idiotic that a poor person knee-deep in debt goes out of their way to build a family only to turn around and whine about how expensive it is.
How do people put themselves in a serious relationship and NOT think about these things?
>Shit job, damn near broke, no sign of that changing
>"Better start a family! Let's all be poor together!"

[Anonymous No.995020]

>>994460

Sure it will. People just need to be willing to delay gratification instead of just buying it now on credit. As for state and federal government debt, that is something that will require change at a level none of us can deal with.

[Anonymous No.995025]

>>994972
Keep making excuses and blaming everyone else instead of finding solutions.

Also starting a family when you're poor is absolutely retarded.
>Not for u to decide
Yeah well then don't bitch when you're poor and your life is falling apart. It's also highly irresponsible to bring children into a world when you can't provide for them.

[Anonymous No.995027]

>>994446

For the most part I agree except for the horrible wealth power gap right now. If you are at the bottom and wanna move up you're gonna need a loan for something.

[Anonymous No.995036]

>>994963
>I'd bet money that a significant amount of money was given to you..
I'd take that bet and you'd lose but it's the internet so idle claims like this are a perfectly valid way to discredit someone right?

>Buy expensive car to save on maintenance
Except he clearly didn't have the money to buy an expensive car. I could save thousands of dollars a year in gas if I were to buy a Tesla but I don't have 70k to blow on a car so I make do with an econobox. Once he earns enough from his job to buy a better car that may become a good investment but there's no reason to take out a loan and pay 2-3x the sticker price of the car over its loan period. You want to talk about bad finance, THAT'S bad finance.

>muh equity
Does this meme even warrant a response?

>Its poor people's right to get married, even to people with mountains of debt, and then have kids!
Yes, it certainly is their right. You also have the right to jump off a cliff and shoot yourself in the face as you fall. Just because you can do it doesn't make it a good idea. The point is he made a choice, and not just one choice but MULTIPLE choices which resulted in an extremely foreseeable and extremely poor financial outcome. The world didn't inflict marriage and kids on him so the "woe is me" attitude is totally inappropriate.

[Anonymous No.995074]

Hmm. I have a pretty radical idea. Don't go into debt.

[Anonymous No.995081]

>>995025
I have my solutions. Net worth of more than $200K, with enough liquid assets to be out of debt on the next business day. I maintain debt because it's the smart thing to do financially, jackass.

My parents started a family when they were poor. We lived life happily. They grew to be successful financially I'm successful now. I'm not seeing the problem.

>>995036
>I make do with an econobox.
In other words, you don't make enough money to be condescending to people who are "in debt" and doing significantly better than you financially.

As for your condescension about equity and having a family, I have two points:

1. You clearly have no equity
2. Even if you do have equity, you don't have anything to spend it on. Interaction with other human beings is the ONLY thing that matters in this world. Literally everything else is designed to facilitate that in some way.

I'll prove that second point. Come up with a situation, just ONE situation in which having a surplus of money when you die is a good thing WITHOUT bringing other human beings into it.

That's what I thought.

Now, family is the strongest form of interaction with another human being, so all of these "poor" people out there living with their families are enjoying life while you try to shove your flawed ideals on people on the internet. Oh, and for the record, my girlfriend is out of town visiting her family. We're getting married next year. I'd still be happy if we were poor.

[Anonymous No.995084]

>>995081
>Net worth of more than $200K, with enough liquid assets to be out of debt on the next business day

Being in debt means you have negative networth.

[Anonymous No.995088]

>>995081
>Come up with a situation, just ONE situation in which having a surplus of money when you die is a good thing WITHOUT bringing other human beings into it.
being a Pharaoh

[Anonymous No.995098]

>>995081
>In other words, you don't make enough money to be condescending to people who are "in debt"
>I maintain debt because it's the smart thing to do financially

Look at him and laugh people.

>Net worth of more than $200K
Oh, so about the size of my 401k. Please, wave your e-peen somewhere else poorfag. No one cares about your equity.

[Anonymous No.995118]

>>995084
I don't think you understand what the word "net" means.

[Anonymous No.995120]

>>995098
Age?

[Anonymous No.995125]

>>995088
Hmmm... Pharaohs... You mean those people that other people worship? The ones that have other people build their monuments for other people to admire and get buried with other people and try to leave a legacy for other people to admire? Oh yeah, those.

[Anonymous No.995124]

>>995120
27. Been out of school for 5 years, so I have a year on you. I don't make 92k a year though.

[Anonymous No.995129]

>>995125
It was just a 'taking shit with you to the afterlife' joke m8

[Anonymous No.995133]

And when did you first max out your 401k? What was your annual salary at the time?

[Anonymous No.995143]

>>995129
Heh. Sarcasm is hard to pick up on in type.

[Anonymous No.995146]

>>995133
First year I got hired. Annual salary at that time was about 55k. What I make and how much I've saved aren't important though. I'm not rich and I don't pretend to be. The point is that you don't need to be rich to have a "right" to talk about money. My points would be just as valid if I were a penniless bum.

You don't need debt to live a happy and secure life.

[Anonymous No.995149]

>>995146
You mean the first year you got hired after school right? 5 years ago - 2010?

[Anonymous No.995151]

>>995149
Correct

[Anonymous No.995158]

>>995151
You don't have 200K in your 401K. Even if we said that the max was 18K the whole time (it wasn't), and your rate of return was an insane 12%, and your employer matched 100% of your contributions up to 20% of your salary, you still would only have $197K today. Everything required to make those things true is not possible.

[Anonymous No.995179]

>>995158
Oh, also, you gave up 33% of your income to max out. That leaves you with about 36K before taxes. That means in 5 years you'd have to save all of your *gross* income plus have a reasonable ROR to have 200K in the bank, as your screenshot showed. But you know, we know that people have to eat and we have to pay taxes and we have to live somewhere, and also you do own a car and probably some clothes and soap (maybe), so that's not possible either.

Now, we could assume you're working full time and running your own business, but you're on 4chan, so that's not likely to be true, since you'd need to spend most of your time working on running your business or doing your job.

There are two options: your family gave you a reasonably large chunk of money (something you said you would "take that bet" for), or you're absolutely full of gallons of horse shit. I'll go with the horse shit theory until proven otherwise.

Which brings me back to my original point. Interaction with other people is worth more than money. Otherwise, why would you be lying to a stranger on the internet to impress said stranger?

tl;dr - you're full of shit, and there's nothing wrong with having some debt.

[Anonymous No.995207]

>>995179
Keep telling yourself that if it makes you feel better at night man. I was never trying to impress you and I don't really care if you believe me or not, merely demonstrating how full of shit you are for waving your "I'm worth 200k dollary doos!" e-peen around.

Have a nice life dude.

[Anonymous No.995208]

>>995207
>Keep telling yourself that math works

Will do, man.

[Anonymous No.996014]

>>994470
>>994482
you had no business having kids.

[Anonymous No.996016]

>>994426

Nothing. Keep the poorfags poor.

[Anonymous No.996937]

>>994462
>>994470
>>994482
>>994487
Should have never left commie land, traitors got what they deserve. Enjoy your American Dream.

[Anonymous No.996952]

Eliminating or greatly reducing tuition costs, thus reducing the massive cost for mobility.

[Anonymous No.996982]

>>994426
Well there's a weird culture in America where if you can't pay now, find a way to get whatever it is anyway.

The most debatable example would be "I can't afford to but my kids presents for Christmas so I'll get a payday loan max out credit cards and get a title loan.

Rather than not buying presents. Not buying is NEVER an option and people who consider it are shunned and have charity forced upon them

[Anonymous No.996989]

>>994426
1: get a job no one wants like cleaning up dead bodies or on a mine in arizona

2: live like a monk, canned beans, cheese, dumpster diving, several flatmates to share rent

a $10000 annual surplus wouldn't be an ordeal, some people on /biz/ are doing this right now just to buy more bitcoins (not saying they should, just that they are)

[Anonymous No.996992]

>>996016
Why? We already pay them not to riot e.g. healthcare/unemployment/food stamps/prison. Why not just increase that funding to the point where they aren't poor anymore? I already know the actual answer, but I would like to hear your reason

>>996952
Is that really the only thing that needs to be done in order to eliminate debt slavery? That seems to me like treating a symptom. Is college debt really the only form of debt slavery?

>>996982
That isn't really as a big a thing outside of weird middle class culture though, and even then going overboard and living way beyond your means is still looked down upon. I think a lot of people go into debt while investing into something that they think will pay off. Now the problem is that they make these decisions without properly researching their options, or just don't have any sources of good information.

[Anonymous No.997009]

>>996982
I hate this, but I also understand the discomfort people have with parting with large sums of cash at once.

I saved up for a new desktop for university (only to learn I can't go to university, but that's a story I've told here before) and gathered all the cash up to not deal with muh financing. I intend to do the same for a car.

[Anonymous No.997022]

>>996992
No, it is not the only form of falling into a debt trap. However, it can help prevent falling into debt traps by educating people about it and allowing access to better wages that allow less reliance on loans.

[Anonymous No.997032]

>>996992
>Now the problem is that they make these decisions without properly researching their options, or just don't have any sources of good information.

So they deserve to be poor.

Even public libraries provide internet access. Not having sources of good information is an invalid excuse.

[Anonymous No.997040]

>>997009
Nice one. I'm future you assuming you keep your head screwed on.

[Anonymous No.997049]

>>997009
Why couldn't you go?

[Anonymous No.997057]

>>994426
Can someone explain the logic behind why being in debt is good for your credit rating?

For example, why is me having student loans, car payments, mortgages, and like 5 credit cards looking better on my rating than me having everything totally paid off and being debt-free with a history of good payments?

[Anonymous No.997344]

>>994500
Suck a dick, Rush.

[Anonymous No.997362]

>>997057
Jesus fuckhole christ

Define: credit
>the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
define: debt
>something, typically money, that is owed or due.
What the FUCK do you think?

[Anonymous No.997365]

>>997049
>>>994622
(still not sure how many you use to link archived stuff, haha.)

[Anonymous No.997378]

Not being a dumbfuck might be a good start.

[Anonymous No.997390]

>>994426
Declare bankruptcy

Trusting people not to declare bankruptcy is the biggest bubble ever.

[Anonymous No.997443]

>>994426
Bitcoin

[Anonymous No.997560]

>>994426

Continue to shit-post on image boards and then barely participate in the same discussion you just created.

[Anonymous No.997564]

>>997443
>obligatory shitcoin reference in every thread

[Anonymous No.997586]

>>994426
>What can we do to end debt-slavery?
stop borrowing more money than you can afford.
unless you know exactly what you're doing, don't borrow money at all.

the alternative is going on the internet and posting angry rants about
>the government
>the fed
>wall street
>jews
>capitalism
>fiat currency
who are apparently the reason for 'debt slavery'

[Anonymous No.997617]

>implying all debt is bad

Fear of debt is ridiculous. It can be a powerful tool to multiply your wealth when used intelligently.

[Anonymous No.997620]

>>997057
Lmao are you serious?

[Anonymous No.997628]

>>995027
yeah but the point is if you're smart it shouldn't be that large of a loan and shouldn't take you that long to pay off once you start earning. if you're not smart the financial system is signaling it's lack of your acceptance in the gene pool

[Anonymous No.997630]

>>995158
>>995179
that was fairly impressive, albeit extreme faggotry

[Anonymous No.997633]

Thinking about law school, but the debt scares me. I plan on getting a job after I graduate with my Bachelors to save up for living expenses, but I'm not going to be able to handle tuition without loans.

How fucked am I? How do people manage this without simply having rich parents?

[Anonymous No.997655]

>>997633
>Scholarships
>Grants
>Working 20 hour weeks from the age of 16
>Living at home to minimize rent (assuming you have parents that love you)
>"Work Studies" throughout college
>Become an RA or TA to minimize tuition
>...
>Ran out of ideas
>This still doesn't pay for college
>Rob people

[Anonymous No.997662]

>>994487
military
>inb4 slave/get blown up
you asked

[Anonymous No.997666]

>>997655
All of those would be options but I want to go to a good law school and not Uncle Chuckle's Online JD program.

I plan on doing work studies and sharing a room, but tuition pretty much everywhere is like $50k a year.

[Anonymous No.997667]

>>997022
College doesn't give higher wages to an entire population, that's the problem we're facing now. College originally amplified wages because it put you above the masses, not it simply puts you on par with the masses.

Everyone's essentially making the same amount as the 1920s, but they don't start working until 4 years later and they paid someone to let them do busywork for those 4 years.

[Anonymous No.997668]

>>994500
>claims he's poor with a shitty job
>able to get sizable mortgage post recession
k

[Anonymous No.997674]

>>997057
"Being in debt" isn't good for your credit rating necessarily, but having paid off past debts by their due date is. Your credit rating is a reflection of how much you can be trusted to repay your debts. pic unrelated

[Anonymous No.997681]

>>995098
>pretax money