The financial industry loves debt. They love it because it’s how they make money.

And best of all (for them), they use YOUR money to make it happen.

Here’s how it works…

You deposit money at a bank. In return, they pay you interest. It’s just above nothing—the average bank account interest rate is currently 0.06%.¹

But your money doesn’t just sit in the vault. The bank takes your money and loans it out in the form of mortgages, auto loans, credit cards, etc..

And make no mistake, they charge far greater interest than they give. The average interest rate for a mortgage is 3.56%.² That’s a 5,833% increase from what they give you for banking with them! And that’s nothing compared to what they charge for credit cards and personal loans.

So it should be no surprise that financial institutions are doing everything they can to convince you to borrow more money than perhaps you can afford.

First, they’re counting on the fact that you never learned how money works. Why? Because if you know something like the Rule of 72, you realize that banks are taking advantage of you. They use your money to build their fortunes and give you almost nothing in return.

Second, they manipulate your insecurities. They show you images and advertisements of bigger houses, faster cars, better vacations. And they strongly imply that if you don’t have these, you’re falling behind. You’re a failure. And you may hear it so much that you start to believe it.

Third, they lock you in a cycle of debt. Those hefty car loan and mortgage payments dry up your cash flow, making it harder to make ends meet. And that forces you to turn to other loans like credit cards. It’s just a matter of time before you’re spending all your money servicing debt rather than saving for the future.

So if you feel stuck or burdened by your debt, show yourself some grace. Chances are you’ve been groomed into this position by an industry that sees you as a source of income, not a human.

And take heart. Countless people have stuck it to the financial industry and achieved debt freedom. It just takes a willingness to learn and the courage to change your habits.