Few second ago, I saw a picture from Facebook. Most of the people take it as good joke. But for me, I saw the reality.
From the picture, you can see people from all kind of life. Starting from the right is a young adult probably just stepped into working world and decided to buy a car, thus borrowing $8,0000+ loan from bank.
And we then along the way we saw all sort people having loan from bank too either maybe for business expansion, house loan or credit card debt.
And it seem, The beggar who is obviously not eligible for loan, is having a Net Worth More than everyone else.
You can start to laugh on this picture but if you start to think deeply and look around your families. You will start seeing yourself and your families inside this picture.
Me for example, before going out to work, already having RM21,000 debt with bank and now hoping for another loan extension to be approved. But the cash in my bank is not even half of that and I have no assets that is worthy. So, my net worth is -VE.
It is true that any beggar on the street have higher net worth than me.
So, I told myself that my net worth will be +ve as soon I found a good paying job and start working my ass off. But, when the time came when I am about to pay off my study loan, I will start thinking of changing my car as my car will be so old by then, or maybe over swiped my credit card on my camera accessories.
Means, more debt to pay. And bank will become a very happy man taking my hard earning money.
Question is, when is the time I could fully paid my loan and start enjoying 100% of my salary ? I not even dare to start thinking about financial freedom yet. After I see my father, who still in-debt with bank for another 17 years to come even at the age of near retirement. I start to get tired even before stepping in my father shoes.
So, after realizing all of this thing... I knew I must find a way out of this Rat Race.