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by jacquesm 3807 days ago
The moral of that cartoon is that we should all become beggars I guess.

It's a funny way to represent it, but there is one person missing from that cartoon. The person that refuses to go into debt, saves until they have the money to spend on whatever it is they want to buy. Another useful addition would be someone with a mortgage that they actually pay off on, their net worth would likely dwarf the net worth of the beggar.
4 comments
moonchrome 3807 days ago
>It's a funny way to represent it, but there is one person missing from that cartoon. The person that refuses to go into debt, saves until they have the money to spend on whatever it is they want to buy.

There's another person missing from that picture - a person who has debt and has positive net worth.

Honestly debt is not a boogeyman, it can be very enabling and given the current economic situation, interest rates and economic outlook people saving are going to end up on the losing side in the long run.

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oneeyedpigeon 3807 days ago
It looks to me as if several people in that cartoon have debt but a positive net worth.
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moonchrome 3807 days ago
Yeah true (and the point actually) I was responding to OP who was talking net worth and got confused I just bunched all those people in comic into negative net worth :D
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s_kilk 3807 days ago
> The person that refuses to go into debt, saves until they have the money to spend on whatever it is they want to buy.

Bingo. Never been in debt and glad of it.

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justincormack 3807 days ago
Yeah, in the UK average house price inflation has been above average total incomes a lot of the time, people simply cant save up to buy houses.
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grecy 3806 days ago
> The person that refuses to go into debt, saves until they have the money to spend on whatever it is they want to buy

That's me!

> Another useful addition would be someone with a mortgage that they actually pay off on, their net worth would likely dwarf the net worth of the beggar

And they're so old their body has given up and they spend their days sitting in front of the TV, thinking about all the things they wish they did in their life.

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jacquesm 3806 days ago
> And they're so old their body has given up and they spend their days sitting in front of the TV, thinking about all the things they wish they did in their life.

That is very much not necessarily true.

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