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Canajun Finances Home » Debt-shaming: Debt is Bad, but You Aren’t

Debt-shaming: Debt is Bad, but You Aren’t

I keep reading commentaries from “influencers” talking about debt-shaming. At best, “shaming” is becoming “old hat,” but I digress.

The Acadia Axe Man not a debt-shaming vehicle
The Acadia Axe Man, not the RedBlacks Big Jos

Debt continues to be a bad thing. It limits your choices in life and is a dangerous tool (much like a chainsaw). Surprisingly a chainsaw comes with warnings and instructions, whereas most debt vehicles do not. The debt vehicle also cannot be used to make incredible wood carvings, but I digress.

Many times you need to use debt, and this is not an immoral thing. Examples of this are mortgages and possibly student loans (in both cases, there are exceptions). Buying a highly leveraged house or getting a student loan to study Hegelian Philosophy are examples of those exceptions.

The indiscriminate use of debt for impulse purchases is a reason for debt dishonour. Using high leverage and high-interest rate debt vehicles is another reason the fickle finger of debt derision is wagged.

“Influencers” who portray a lifestyle where debt is a good thing are an issue to me. The credit vehicle providers’ advertising is truly reprehensible. The higher the interest rate of the vehicle, the more vile the product. Yes, I mean Pay Day loans, but reverse mortgages are odious.

Debt-Shaming Finger Wag

I will plead guilty as a debt-shamer. However, I stand by all of my previous statements.

Some of my favourite Debt Shaming Content

My list of debt commentary articles is quite long, so let’s stick with the basics.

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