BORROWING MENTALITY

I prefer having/doing something now — borrowing money (becoming obligated) to make that possible— rather than waiting until a future time when I’ve saved enough money to (or can otherwise) have / do it. In general, I have no problem with individuals or governments contracting monetary, personal or ecological debts against tomorrow so that I (or society) can have / do something today. (Note: many employ leverage: using borrowed funds to purchase an asset, having that asset appreciate in value, and selling it at a big profit!)

WORK, PLAY, PAY AS YOU GO

I need work to do, someone to love, and something to look forward to, to be happy. I avoid going into debt to buy what I don’t really need since in the long run this will maximize fun, freedom, and choices, and minimize guilt, worry about bills, and interest charges. Pay as you go also means giving back to society— ideally with meaningful, socially engaging work—not mortgaging your future with risky bets, and not incurring ecological debt by leaving future generations with a mess to fix, and yourself with guilt. (Note: the young should foster relationships with those able to help them get started; the old should help others do this.)