# Digging Oneself Out of A Hole By:: [[Ross Jackson]] 2024-01-21 One cannot dig oneself out of a hole. Continuing to dig only makes the hole deeper. As the hole gets deeper, it becomes increasingly challenging to get out of it. Debt can be a deep hole for people. College debt, house mortgage, car loans, and credit cards can amount to significant debt. It is as if, at each stage of life, one attempts to dig oneself out of the hole of debt through employment. This puts a great deal of stress on one’s job. First, one needs a job not only to survive in the present but also to pay off bills from the past. Second, the amount paid needs to meet the minimum payments of all the debts one has accrued, plus sustain the standard of living one desires. This is a great deal of stress with which to contend. In our consumer economy, one is often persuaded to attend the best college, buy the biggest house, and drive the best car possible. This equates to digging the hole of debt as deep as possible. These elements would not be unreasonable to combine to over half a million dollars in debt. Chances are good this will take twenty to thirty years at a minimum. But of course, in a consumer economy, one will likely buy three or four new cars during those years, so it will probably take longer. Putting the shovel down is the best way to dig oneself out of the hole. For each of these things, there are lower-cost alternatives. They will potentially lack status, but they are functional. Pursuing these lower-cost alternatives can allow a person at any income level to build wealth. There is a saying that compound interest is paid to those who understand it by those who don’t. Consuming more than one can currently afford means paying more for that consumption over time. This could be twice as much, maybe up to four or five times as much. The same applies to investing, where a little now can result in as much as five times the initial investment. One doesn’t dig oneself out of a hole; one climbs out. Our consumer culture does everything possible to focus people’s attention on consumption. This isn’t because consumption is suitable for the individual. It is because consumption is good for capitalists. If it seems like one can never get ahead, that is because it is a rigged game designed to prevent that outcome. It is possible to break this cycle, but it requires a radical break from societal norms. #### Related Items [[Money]] [[Capitalism]] [[Society]] [[Norms]] [[Debt]] [[Radicals]] [[Economics]]