Question with Boldness
A rather popular radio and TV personality is prone to say at least once every day to question with boldness things that are presented to you. For the last few months I’ve really started to take this to heart and have began to question things that I always assumed were common sense, or ‘the way things are’, and even traditions that nobody really knows the beginning of.
Let’s revisit my post about Credit Scores, and dive a little deeper into that. Did you know the only way to have a FICO score is to have debt? No iffs ands or buts about it – if you want a FICO score you need to have debt, both new and old, constantly maintained DEBT. There really is no good way to look at that, no matter how you may justify it – the ONLY way to have a credit score is to have debt. How often do we bridge those two facts? All marketers and bankers and lenders did was give debt a new name (FICO) and a score-scale and made it a competition to have the best. In our rush and hurry to have an “awesome” FICO score did you notice you were enslaving yourself to someone else? And then to make you feel better about it they throw in “points” and “rewards”. Right. They just LOVE to give away “free” things to you. Sorry to burst your bubble, but you paid for those things to.
So, I’ve decided to question what the real purpose of a FICO score is, or to have “healthy” debt (That’s just as ridiculous as the Capital One “Freedom” Card. And the conclusion I have come to is I want nothing to do with it. I guarantee that a large margin of wealthy people carry very little to no debt – and it’s NOT because they have money to buy things so they don’t need debt; it’s because they avoided debt to buy things in the first place, and that freedom from interest and lenders enabled them to become rich. Think of all the extra money you’d have from your paychecks if it wasn’t already promised to to someone else. (And please don’t confuse expenses with debt)
You can never borrow yourself into wealth. That math never adds up. Discipline will always beat instant gratification.
What are some things you question the necessity of? School? The 40 hour work week? The requirement to go into the office? Vaccinations for your kids? Let’s have a nice discussion!
