Jacob Lund Fisker: Debt Owned

Posted by admin on Friday, July 7, 2023

Meaning of Jacob Lund Fisker Money Quote: saying If in debt, you are owned by that debt and the creditor. Jacob Lund Fisker said:

 

 

“If you have debt, you’re not a free person. You’re explicitly owned by your debt and implicitly owned by the creditor” — Jacob Lund Fisker

 

 

Jacob Lund Fisker is suggesting that having debt, especially significant debt, can compromise one’s freedom and independence. By owing money to creditors, the debtor is “explicitly owned” by the debt in that they are obligated to repay it.

They are also “implicitly owned” by the creditor, in that the creditor has power and influence over the debtor through their owed debt. Fisker’s view is that being in debt means one is no longer fully in control of their own decisions and finances, since paying back creditors must now be a priority.

He sees debt as limiting one’s autonomy and ability to freely choose their own path without obligation to others.

Dave Ramsey: In Debt? You are Owned

Posted by admin on Sunday, February 18, 2018

Dave Ramsey Money Quote saying once you move into debt, you’ve altered the course of your life by becoming owned and controlled by what you owe. Dave Ramsey said:
 

 

“The decision to go into debt alters the course and condition of your life. You no longer own it. You are owned” — Dave Ramsey

 

 

This Dave Ramsey quote is saying he believes taking on debt, and that debt fundamentally changes the trajectory and circumstances of one’s life in a negative way. By stating that debt alters your life’s “course and condition,” and that when in debt you “no longer own” your life but are instead “owned,” Ramsey is suggesting that becoming indebted relinquishes a degree of autonomy and control over one’s own future.

His quote implies that being a debtor subjects you to the terms set by your lenders and shifts your life path in ways that may not have otherwise occurred without debt obligations. Overall, Ramsey appears to be strongly warning that debt diminishes personal freedom and that debtors in essence lose ownership over the direction of their own lives.