I heard something interesting on NPR yesterday. Some economist from The Financial Times said: "Debt is your future self sending money back in time to your past self".

I told that to one of my friends and he said he is paying for all the drinks he had back in the day. I am also paying for that but most of all I'm paying for my shopping sprees, aka daily trips to Banana Republic.

A while back, I talked to another friend about our past debt and whatnot. Interestingly enough we were able to define the difference between our debts. In college, she lived on her own and although she got some sort of an allowance, she worked for her spending money. Her acquired debt was more along the lines of living expenses. My debt on the other hand was different. I lived at home with my parents, so living expenses were covered. And because they were covered I was able to splurge on life's treats (shopping, partying, eating out, shopping, high cell phone bills, eating out, partying some more).

Nowadays the roles have reversed. She is in a much much more comfortable situation than I am. The debt she is acquiring is for life's treats and mine are for living expenses. She's smart though and she's not letting herself drown on life's treats whereas I was stupid and I drowned. I totally drowned... I have a life preserver now and I'm swimming back to the shore...