In the past, Americans were taught to avoid debt, but lately we have been persuaded to embrace it.  The process starts early—high school students receive pre-approved credit cards although their only income may be from babysitting or mowing their neighbor’s lawn.

Debt has become an accepted part of our everyday lives.  People don’t realize that embracing debt subjects them to financial servitude—a form of slavery—in which their bills determine when and how much they work, often at jobs they don’t even like.  We no longer learn the basic lessons about money that are the foundation of financial security.

The result?

U.S. consumer debt continues to hit all-time highs, real estate foreclosures are soaring nationwide, and the American family is under a level of financial stress that hasn’t been seen for generations.

Can anything be done to help?

Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money, by Michael Mihalik, offers hope.  The book describes the ideas and techniques that Mihalik personally used to gain control of his finances, pay off a paralyzing amount of debt, and create financial security.