Why I Don’t Like Debt…Consider This Before You Introduce It Into Your Personal Finances!

Defeat the Debt Monster

I am not fond of debt. 

Better said, I hate debt for me, personally. 

As soon as I turned 18, I started trying the “debt thing” out and liking what it brought me instantly. The credit cards and personal loans that I got bought stuff and brought fun. So much enjoyment that I decided to do debt again. I decided to get more and some more after that!

As I write this, I realize that it was like a drug to me. 

Addicted to Debt

I was addicted to debt. 

No one forced me, but I let the availability of debt control me. 

I couldn’t say no. Didn’t want to. I liked the travel, clothes, tech toys, cars and all the other “stuff” it brought me.

I was, as the book “The Millionaire Next Door” says, “Big Hat, No Cattle.” The money I had was the bank’s money out on loan to me. The money was not mine, and when I think about it, neither was the Dave Matthew Band CD I just bought, my jeans, nor the shirt on my back. It was all paid for by the credit card.

That became apparent to me when my bill came in the mail. I can’t remember if it was the HSBC bill, or the Bank One (now Chase Bank) late notice, or the Abercrombie & Fitch bill (I remember the A&F branded tan-colored paper bills to this day). The love note from the credit card company would arrive and I had a decision to make. I’d either pay the minimum or simply put the bill in the folder labeled, “credit cards,” into the filing cabinet I bought, on credit. ☹️ 

These notices made sure that I remembered that the “stuff” wasn’t mine. Yet, that didn’t deter me from getting more stuff on credit. Before you know it, I had something that looked like the 1927 New York Yankees lineup, “Murder’s Row” with all my credit card bills, personal loans, student loans, and money owed to my parents. The debt was mounting, and it was destroying me. 

A Purpose Discovered Through Pain

It’s why I hate debt and the poor choices I made regarding it. Turns out, the debt was not the problem. It was me and my mismanagement of money, my inability to say no, ignoring the risk of negative consequences, and a lack of vision for my own life. So, when I say I hate debt, I am not saying I hate it for you. I hate it for myself, what I allowed it to do to me, and how I suffered for so many years.

Over the years, there have been multiple times when I have rid myself of debt.

  • 2003 – Single: Chapter 7 Bankruptcy (not a good plan as it did not change my habits, just my debt position)
  • 2008 – Single: Paid off 37k in 16 months including my car loan and student loan (even after bankruptcy, I still acquired more debt)
  • 2011 – Married: Paid off my wife’s loan against her 401(k) for her home down payment (we have the same thoughts regarding debt)
  • 2014 – Paid off our townhome mortgage of $99,600 a year after we decided to destroy the debt (what a miracle story this was!)

And to be done forever and ever…

  • 2021 – My wife and I want to get rid of our single-family home mortgage (we bought it with 40% down from the cash we received from the sale of our townhome)

With my debt experiences, I can truthfully say that there is a difference between living with it and living without it. I think you know which is more manageable!

Over these years, I have discovered that my purpose in life is to help more people leave the way that has held them back. 

My purpose is to help people, like you reading this, to know, live, and love the purpose for their career and finances.

When I am speaking, consulting, and or coaching, I ask people who are considering acquiring debt or don’t mind keeping it an important question.

Will this debt help you to know, live, and love your life purpose, or will it hold you back from achieving it? 

Brian horvath

I cannot control their response, but I will support them no matter what they tell me. Yet, in our time together, I will try to shed light on the plethora of opportunities to choose otherwise.

It reminds me of what the famous novelist, James Joyce, once said, 

“Think you’re escaping and run into yourself. Longest way round is the shortest way home.”

James Joyce, Irish Novelist

That is how I feel about debt. Many, including me, think that we can escape the patience needed to wait on a purchase. We don’t want to wait to save money and pay cash. Looking back in my own life, it would have made more sense for me to take “the long” way, even though it would have been slower, as Joyce puts it, to get to my goals — to get “home.”

But… we want what we want, and we want it now! The song that Veruca Salt sings, from the movie, “Willy Wonka and the Chocolate Factory,” comes to mind.

I want the world. I want the whole world. I want to lock it all up in my pocket. It’s my bar of chocolate. Give it to me! Now!

Veruca Salt, in “Willy Wonka & The Chocolate Factory”

I understand…who the heck wants to wait? Well, do you remember what happened to her and Mr. Salt? They go into the garbage chute as bad eggs! 🐣🐣🐣

A Debt Setup

So, we go into debt. We get the item(s), and we’re all set, right? 

Yes, sure, for about 30 days…until the letter comes in the mail. The letter confirms and even congratulates that you, the borrower, are now a slave to the lender. 

You are set up for a bunch of bills and the 16% interest (average for new credit card holders, 2020) that is required of you. Adding to the stack of negative, for many, is a lack of financial literacy, poor emotional intelligence, and the unaccounted risk of job loss, medical condition, and the like. 

With all of that, you have for yourself, as I once did, a Molotov cocktail in one hand and a lit match in the other!

Destroy Your Debt

Can you see why I hate debt?

Can you see why I want you to consider hard, the alternatives before you introduce it, or continue to use it as a part of the plan for your personal finances?

So, are you ready to destroy your debt and fully knowlive, and LOVE the purpose for your finances?

You can destroy the debt and change your financial future forever with my online money course, “7 Ways in 7 Days to Change Your Financial Future FOREVER!”

Jump on the waiting list and attend one of the free webinars at

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