“The rich rule over the poor, and the borrower is slave to the lender.” —Proverbs 22:7

Many so called financial advisors suggest that there is “good debt” and “bad debt.” The implication usually is that debt secured by an appreciating asset (such as real estate) is good. Some go as far as to suggest that you need not consider it as debt. Nothing could be farther from the truth. If “the borrower is slave to the lender,” then debt is slavery. I wonder how many would cede that there is such a thing as “good slavery” and “bad slavery?” Certainly, some slavery is less onerous than other slavery. Better to be a slave in Eastern Europe than in Saudi Arabia, I suppose, but it is still slavery. As long as you have debt, you are still enslaved.

Debt is Slavery - Get FREE!