Purpose of Debt

“Debt is simply a way for you to own and control more than you can currently afford from your savings. When you take on debt, you are agreeing to use future earnings to pay for something you want now. In general, if it’s something consumed – like a car, clothes, or airplane tickets – all you’re doing is stealing from your future to satisfy your present desires or needs. Eventually, it will not work.” -David Eifrig

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Future Wealth?

“Debt is a claim on future wealth.” -Steve Longenecker

Why Money?

“Why do we use money?…  the social function of money is to facilitate economic calculation.

Money cannot do this if its future purchasing power is subject to violent swings because of political intervention….  sound money has desirable properties such as a predictable purchasing power.” -Robert Murphy

Future Slave

“Don’t outsource your self-esteem to only one outcome. Then you are a slave to a future you can’t predict.” -James Altucher

Pay Back

“When you borrow money two things usually happen.  First, you’re taking capital that others saved in the past, and are probably using for consumption, not to create more wealth.  And second, you’re mortgaging your future, which makes you a serf when you have to pay it back.” -Doug Casey

Future Income

“Money saved generates future income.  Income is what sets you free.  And freedom is what truly makes us happy.” –David Eifrig

Next

“Regret of the past or anxiety of the future are the thieves of the present.  Just do the next thing. That’s all you have to do.” -James Altucher