If there are two words to sum up what this is about then they are HAVING OPTIONS.

Now, here are the sums:

£1,000 income less £1,100 expenses = misery

£1,000 income less £900 expenses = happiness

So this is not about turning us all into 'mean' people but about happiness.  Living below your means with dignity will bring true happiness.

When the word debt is used in this website, it means unsecured consumer debt.  It does not include a mortgage to buy your home or business loans.  These latter examples are considered intelligent debt whilst the former is stupid debt.

Debt is intelligent debt if passes following tests:

• Borrower has safety valve, the debt is secured
• Loan is for something that has a life expectancy of more than three years
• Loan is for something that will increase in value
• The interest rate is reasonable

Unsecured consumer debt are loans used for holidays, electrical equipment, cars, meals out, entertainment, clothes, Christmas and birthday gifts, daily expenditures, etc.

It must be unacceptable.

In Summer 2004, the Bank of England's figures revealed that UK consumers were £1 trillion in debt, an amount that broke all previous records.  Debt is a problem because it:

• Promotes discontentment
• Makes arrogant presumptions about the future
• Requires you to transfer your future wealth to your creditors
• Limits your options
• Steals your freedom

As the Bank of England figures imply, having debt is seen as a 'normal' everyday occurrence.  This simply cannot be sustained as all this borrowed money needs to be paid back.

This page is still under construction.