On April 2, 2011, Suzy Orman again mentioned her opinion of the "new
American Dream": freedom from debt. I am very fond of her idea, and I will tell
you why in just a moment. It is important to first take a look at the image of
the American Dream many of us grew up with.
However, when our reality and our image of prosperity are misaligned it is tempting to use dangerous tools, such as credit, to force the two to come together. That is where we get in the most trouble. To a degree it is about being dishonest with yourself. The person who refuses to accept their current financial reality and then chooses to use credit in order to create an appearance of what he thinks prosperity looks like is only going to steal from tomorrow's potential prosperity.
The very first American Dream
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