The idea that being in debt
is the modern equivalent to being a peasant
to a liege lord
. The most popular form of serfdom
currently seems to be credit card debt
, which is unfortunate, since it usually has the highest interest rate
Student loans, car loans, mortgages, and the nascent home equity loan are popular alternatives to plastic.
Don't be a serf. Live below your means, and only take on debt if it'll be profitable.
"When you run in debt, you give to another power over your liberty." -Benjamin Franklin