Act 103

Reconnect with an old friend

Today I reconnected with an old friend. Someone who knew me when I had no debt. When my major concern was what book I would read next, what movie I would see this week, what restaurant I would try over the weekend.

Remember who you were before the debt. I was pretty much the same person as I am now. Except I didn’t have a mortgage, I hadn’t started my family. I hadn’t built my business. I wasn’t responsible for someone’s else’s pay cheque. If you’re in debt, chance are you’re in it because you’ve built something so recognize and acknowledge that and be proud of what you’ve built even if you haven’t paid for it yet.

And speaking of pride, if you’re my age (about half way between high school graduation and retirement), remember this. When our parents were our age, there were no RRSPs, no lines of credit, no home equity loans, no multi-thousand dollar credit card limits, no Sears card, no Canadian Tire cards, no interest free furniture loans, no car leases. None of that. It’s no wonder they perish the thought of their children in debt. And so they should. But make no mistake, debt is a product that is packaged, promoted and sold. Is it any wonder the banks make record profits. Debt is our stagflation, our OPEC oil crisis. Our parents made it out of those troubled days and we will make it out of these. Just don’t expect their support. It’s not that they don’t love you. It’s just that they don’t understand what you’re up against.

So remember who you were before you were in debt and strive to be that person again. One debt defying act at a time.