Chapter 201 Can’t Stress this Enough, Never a lender nor a Borrower Be
The quote by William Shakespear’s Hamlet, said by Lord Polonius, was “Never a lender nor a Borrower Be.” As we are always on the topic of peace, calmness, and equanimity, consider all the situations where you nearly “lost it” by yourself, or with your spouse or girlfriend/boyfriend. Was money involved? Chances are, it was. Gallup polls regularly reveal that money problems and conflicts were at the center of 90% of the breakups in marriage.
In our current debt driven society, the question often is not, “What much will all this cost me?” Rather the question has become, “What’s my monthly payment?” (referring to the fact that there will be debt at the end of the deal). People are living off their credit cards that have insane interest rates whereby if you pay the minimum payment you’ll pay off the loans over a fifty year period. Debt = Slavery, remember that.
This chapter is a short one because I think everyone has pretty much learned everything through life experiences. In nearly all cases, getting into debt is a one way trip to hell on Earth, and will shatter any hopes of inner calmness and tranquility. When you owe someone money, that person “owns” a part of you. You are always unsettled, nervous if you are going to be able to pay them back, wondering if you will have the money, fearful they will start asking for the money back. You start to worry, and then that leads to anxiety, and subsequent depression.
On the other hand, if you LEND someone else money, this is equally a bad situation for you. Then you will wonder if they will ever be able to pay you. Your worry will be in the exact proportion as if you had borrowed the money. Just the same, you will start to worry, and that will again lead to anxiety, and further depression, as your mind is unsettled whenever you think about collecting the debt.
Keep it simple. Life always within your means. Cut up your credit cards, buy a home that you can actually afford comfortably, and save money for the future. Find interests and entertainment that are free or nearly free, like city parks and free day museums.