Why get into debt?

I received a call from the friendly bank officer today.

Bank officer: Good morning miss, (niceties… etc… etc…). We would like to offer you an overdraft at 6.88% interest, it can be used for your credit card as well, so if you want to pay any bills, or increase the amount of money you have, we can give you this money. Repayment can be by installment over one to two years.. (then she continued reading off her script at light speed and I lost her). Are you interested?

Me: Oh, thanks but I’m not interested.

Bank officer: Oh, how come? Is it because the interest rate is too high, or you want a more flexible plan?

Me: No… I just don’t want to be in debt.

Bank officer: Oh. Ok then, if you ever need a loan or overdraft, feel free to call us. Thank you!

~~~~~~~~~~~~~~~~~

We belong to a society that is too dependent on debt. I can’t tell you how many friends live from paycheck to paycheck, and if they were out of a job for just one month, good luck to them paying their bills. But that can’t be the right thing to do – what then happens to saving for a rainy day? Are we such a consumerist society that we cannot delay gratification and thus impoverish our future. Is all we think about the right now? I worry for my generation and those that come after.

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