(image by Public domain)
If all of your forms of electronic debt were not available tomorrow, how well would you survive? Most North American people, and may Europeans, survive day to day solely at the mercy of their plastic. Do you have any idea how unhealthy and fragile such a life-style is?
We "Eat Plastic".
Do you sometimes have the fear that at any moment your "plastic" could mutate into something horrible and kill you?
This is not only about your personal finances. It is about everybody's finances and the financial structure of the entire developed world. Governments might do their best to maintain the status quo, but their powers are less than they like to pretend. The following video deals only with young Brits, and only with the "Pay-Day Loan" sector. However, the same also applies to adults across a wide spectrum of debt instruments. Even if you have money in your account, a bank-card transaction is debt until the money is out of your account, and most of us spend expecting the next deposit to be on time.
Debt must be seen as a living organism (your herd), and tended as such.
A number of things can cause your plastic to die. If your life depends on plastic, that plastic must be constantly cared for.
If you stop feeding it (minimum deposits), it dies or mutates. In fact, it will become a voracious parasite that will kill its host, which is your credit rating. That has serious repercussions for everything else in your life.
If you become dependent on plastic, it will multiply, overpopulate its food supply, and then die (self explanatory).
If the plastic shepherds go on strike, your plastic will die. Technicians and account managers or even service providers might for obscure reasons affect your ability to do electronic transactions. The things we take for granted are not guaranteed.
Or if some plastic shepherd makes a mistake and sends your plastic to someone else, it might as well be dead.
If the plastic breeders, aka major banks, go bankrupt, your plastic will die. In this scenario, your debt does not die with the bank, only your ability to access your account. The debt is just sold to someone else.
If the plastic rustlers, aka hackers, steal your brand, you will lose your herd and starve.
If events such as aging cables, solar flares, or sabotage destroy the migration paths of the plastic herds, they die. All of these appear to be remote possibilities, but if all the probabilities are added together, the odds get much higher.
Could you live in a world without Plastic?
Whether you think you could or fear that you would not be able to, it would be healthy and valuable to experiment with the new "plastic-free diet".
This is a commercial world. There are few places where one can go to get practical, step-by-step help for reducing debt, unless one is willing to both give personal information and pay yet more money for advice on spending habits. Rather than build a commercial website with a Paypal link or a "donate button", this article seeks to offer a very basic, practical strategy for getting control of your finances. All other 'Debt advice' is predicated on the assumption that everything will continue as it is. That is a reasonable strategy in most cases. However, we live in a very uncertain time and it is best to do what is immediately possible. Once your financial ship has been stabilized, as in, not constantly running against overdraft limits, then it will be time to begin a more long-term strategy. There are no 'one-size-fits-all' solutions each person's reality and abilities are different. Not all people will be able to follow this program.