Debt Fear: Is it a Motivator?

Do you know that how most of the people keep them motivating and keep themselves working hard? Well, they do it by increasing the amount of Debt whenever they get a pay rise.

One of my friend keeps buying more and more via credit. And he prodly tell me that, this motivates him to work more. He argue that, “The more I take a debt, the fear of default increases and this increasing level of debt-based fear encourages him to work harder and more aggressively.”

To him, a big home is a remainder of a big mortgage and need to work hard at his job place to increase his performance.

This is the scenario of many people all around the world. They call it smartness. And they also teach such kind of skills to their children. Some people call it daring or ability to take risks.

Now, if you examine the wealth of these people than they own very little assets. And if you count their net worth (Assets minus Liabilities) than most of the time their Net Worth is negative. This is because every time when they get a salary rise, they simply take a more debt.

And one day when they wake up in the morning, they are in the deep debt up to their eyeballs. And from that day, they can’t stop working for the rest of their life. This is because they have to pay those car loan payments, mortgage payments and credit card bills every month.

Now the excitement of taking more risk is gone. Now the Fear of Debt doesn’t motivate them to work more. They are tired now and they want to escape from the debt trap but they can’t…

So now you decide yourself that, Do you want a Debt Fear as a motivator to work more? The Choice is yours…!!!