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Slavery In Disguise and How We Broke The Debt Cycle

October 10, 2013 @ 15:51 By Gavin Webber 11 Comments

Here is a bold statement. I believe that debt equals slavery, in another guise. 

Let me ask you this question. If you had no debt, would you work at the employer you have now?  Would you downshift and work less?  Would you seek to be creative in something you really enjoy regardless of the pay packet?

I don’t know about you, but I would rather choose what I want to do with my day, rather than someone else telling me what to do. If you think that self-employment is the way to break this bond of slavery, then you may be sadly mistaken.

Until you pay off all of your outstanding debt that you borrow to service your company, you are still chained to working until it is paid off.  Debt is a contract that you enter into with a financial institution that you must honour, by law. It is a burden that must be repaid one way or another and are shackled to whomever you owe the debt to.

So, to be truly free, we must become debt free and not owe anything to anyone in the form of loans that bear interest. Therefore, no debt equals freedom, in my mind.

What We Have Done!

To that end, we have been paying down our personal debt as quickly as possible with a view to being free! At the start of our sustainable living journey, we took out a personal loan to pay for the Solar PV system over the term of 4 years. We paid it off in one and a half years! This saved us about $1500 in interest. How did we do it? Well we used the saving achieved on our electricity bills over the term of the loan to pay down extra off the principle. The beauty is that renewable energy is the only investment I know that pays for itself! So now that this debt is paid out, we basically have free electricity. Same goes for the solar hot water which is free for eight months of the year, as does all the cheap, organic food we grow.

With the surplus funds that we gained after paying off this personal loan, we are then paying down our remaining mortgage quickly. We now have about two and a half years to go and the house is ours. We are putting every spare cent we can into this debt reduction.  We do have a credit card, but it is paid off monthly, within the free interest period.

With no other outstanding debt, that will make me a free man! What about other expenses, I hear you say? As I have a military pension that will cover off basic expenses, I will only need a part time job, with the choice being mine alone on what I do and how many hours I work. I am very excited by this notion. We plan to ramp up our Little Green Workshops business and spread the work near and far around Greater Melbourne!  Yay.

Knowing that our frugal lifestyle and low expenses have gone a very long way to achieving this goal, I am so glad I had my green epiphany when I did.

Little did I realise that by reducing consumption I was actually lowering my environmental footprint, and in the process, lowering my craving for debt. With all things being equal, I will be 52’ish when I semi-retire.  Not bad for a born again middle aged hippy!

Economic Woes

However, in our current economic system, if everyone in the world paid off their debt and sought no additional lending, our current economic system would collapse;

“The entire world economy rests on the consumer; if he ever stops spending money he doesn’t have on things he doesn’t need — we’re done for.” – Bill Bonner

Our entire society has a foundation of money = debt, and we rely on growth at all costs to continue funding this lifestyle. I have mentioned before, this is not sustainable in the foreseeable future, and we need Degrowth now. Growth at all costs means having unlimited resources, which is something our planet is not able to provide us with. We live in a finite world that has boundaries and thresholds, many of which we have already crossed to the detriment of other species who co-exist with us on Earth.

“Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.” – Kenneth Boulding, economist

Crash Course

For a better understanding of how money is created, check out Chris Martenson’s Crash Course which is free and will give you a better understanding of how our economy works and why it relies on growth at all costs.  The course will take you a bit of time, but it is well worth it.  I refer back to it regularly.

It is partly because of the way our current economic system works, that our world leaders failed to act on climate change at a global level.

This may be because they do not have the courage to change the very system that got us into this mess, as they realise that by curbing growth, the system as it stands, would collapse. Growth at all costs would have to be curtailed and the wealthier citizens of the world would have to stop shopping until they dropped to reduce excessive carbon emissions.

As the current economic reality is that money equals debt and the abundance of cheap oil has kept our economy growing, which is coming to an end, then greenhouse gas reduction is looking like a slim prospect indeed without collapse because we will not be able to afford the actions required.  Either that or a collapse just stops us from polluting anyway.

“We’re in a giant car heading towards a brick wall and everyone’s arguing over where they’re going to sit.” ~ David Suzuki, Elder.

Whilst I will be personally very happy not to have any debt, I still worry that our society is still geared as if we are partying like it is 1999!

No Real Answers
I don’t know the answers to this issue but I do know we are in for a bumpy ride, very quickly, if we don’t change something.  Something like, oh let me think, living within our means.  Sustainable living, if you like.

I believe that the economic issues of the year 2008 was only a small glimpse of what may confront us in the near future as resources deplete (e.g. oil, food, minerals) and growth stops and hits reverse gear.

Do you have any practical solutions to pay off your debt, before the economy tanks?  I think it would help everyone in this community to learn as many tricks and tips as we can!  Comment away.
-37.6777778144.5686375

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Filed Under: Debt, economy, greenhouse gas

Paying Down Our Debt!

May 17, 2010 @ 22:31 By Gavin Webber 14 Comments

Back on New Years Day, I articulated this goal besides a few others in 2010;

Pay Down Outstanding Debt.  This is so no-one has any outstanding claims on my work or my time.  I find that in many ways, debt is slavery in another guise, so it is time to throw off the shackles as quickly as possible before Peak Oil hits hard.  We have planned to pay down the rest of the loan I took out for the Solar PV by the end of April (approx A$7500), and then start whacking over 60% of my wage into the mortgage with a view of paying it off in 5 years.  This is certainly achievable and Kim and I have calculated it down the dollar.

 It is now mid May, and guess what?  Today we have just paid off the last of the $30,000 personal loan that we took out over 5 years, in just 3!  We saved swags of interest by paying it down early, and now will be putting the amount we had allocated in our budget for the personal loan straight on to our Mortgage.  With only $2000 on our credit card due to my medical expenses, we also expect to have that paid off in a few of months.  Once that is at zero, every single spare (within reason) cent will be going into our home loan.   No more debt in 6ish years = a free and very happy man!

Oh, BTW.  I now own this, which makes the air clean, with no electricity bill to worry about ever again.  Even more savings to pay down debt!

 I am so proud that Kim and I have achieved this goal, roughly on time.  Paying down debt quickly is a very tangible benefit of a frugal and sustainable lifestyle.

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Filed Under: Debt, Frugal, Sustainable Living

Debt = Slavery

January 13, 2010 @ 23:18 By Gavin Webber 12 Comments

As I mentioned in my goals post for 2010, we are attempting to pay down outstanding debt as quickly as possible.  The simple reason is that debt = slavery, in another form. 

Think of it this way.  If you had no debt, would you go to work at the employer you have now?  I don’t know about you, but I would rather want to be able to make a choice on what I want to do with my day, rather than someone else telling me what to do.  If you think that self-employment is the way to break this bond of slavery, then you are sadly mistaken.  Until you pay off all of your outstanding debt that you took out to service your company, you are still chained to working until it is paid off.  Debt is a contract that you enter into with a financial institution that you must honour, by law.  It is a burden that must be repaid.

So, to be truly free, we must become debt free, and owe nothing to anyone in the form of loans that bare interest.  No Debt = Freedom.

To that end, are paying off our personal debt as quickly as possible with a view to being free!  By the end of March we will have paid off the personal loan I took out for the Solar PV system, one year ahead of the loan term of 4 years.  This will save use about $1000 in interest alone achieved by using the savings in electricity over the term of the loan to pay down extra off of the principle.  Renewable energy is the only investment I know that pays for itself!  So once this debt is paid out, we basically have free electricity.

With the surplus funds, we are then paying down our remaining mortgage.  We have calculated that we can pay off the loan in 5 and a half years.  With no other outstanding debt, that will make me a free man!  As I have a military pension that will cover off basic expenses, I will only need a part time job, with the choice being mine alone on what I do and how many hours I work.  I am very excited by this notion.  Knowing that our frugal lifestyle and low expenses have gone a long way to achieving this goal, I am so glad I had my green epiphany when I did.  Little did I realise that when I realised that by reducing consumption I was actually lowering my environmental footprint, and in the process, lowering my craving for debt.  With all things being equal, I will be 51 when I semi-retire.

Unfortuantely, if everyone in the world paid off their debt, our current economic system would collapse;

“The entire world economy rests on the consumer; if he ever stops spending money he doesn’t have on things he doesn’t need — we’re done for.” – Bill Bonner

Our entire society has a foundation of money = debt, and the we rely on growth at all costs to continue funding this lifestyle.  As I have mentioned before, this is not sustainable in the foreseeable future.  Growth at all costs means having unlimited resources, which is something our planet is not able to provide us with.  We live in a finite world that has boundaries and thresholds, many of which we have already crossed to the detriment of other species who co-exist with us on this big blue/green marble.

 “Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.” – Kenneth Boulding, economist

For a better understanding of how money is created, pop on over to Mia’s blog, “Becoming a Good Human”, and reading this post titled “Economy #1: How Money is Created”, and the follow up post “Economy #4: The Debt Trap (Our Economic System is not Sustainable)


Both posts make for enlightening reading.  It is partly because of the way our current economic system works, that our world leaders failed to act on climate change at Copenhagen.  This is because they do not have the courage to change the very system that got us into this mess, as they realise that by curbing growth, the system as it stands, would collapse.  Growth at all costs would have to be curtailed and the wealthier citizens of the world would have to stop shopping until they dropped to reduce excessive carbon emissions.  With the current reality that money = debt, then this is looking like a slim prospect indeed.  We only have one home, and we are using it up at an alarming rate.  


Whilst I will be personally happy not having any debt, I still worry that our society is still geared as if we are partying like it is 1999!  I don’t know the answers, but I do know we are in for a bumpy ride, very quickly. 

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Filed Under: Debt

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About Gavin Webber

About Gavin Webber

An Ordinary Australian Man Who Has A Green Epiphany Whilst Watching A Documentary, Gets a Hybrid Car, Plants A Large Organic Vegetable Garden, Goes Totally Solar, Lowers Consumption, Feeds Composts Bins and Worms, Harvests Rainwater, Raises Chickens, Makes Cheese and Soap, and Eats Locally. All In The Effort To Reduce Our Family's Carbon Footprint So We Can Start Making A Difference For Our Children & Future Generations To Come.

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Podcast Reviews

  • Always inspiring and entertaining!
    August 4, 2016 by floriographer from Australia

    I've crowed about Gavin's podcast before but I just have to recommend it once again - I love that he shares his learning as well as his successes - it helps the rest of us try try try again! Thanks Gavin!

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    July 22, 2016 by Ketaea12 from New Zealand

    I really enjoy listening to Gavin, he has a kind lovely voice. He covers some great relevant topics for the everyday greenie. With lots of tips or how to or what not to do. Thanks Gavin, love it!!

  • Well worth your time to tune in
    October 23, 2015 by A Vision Splendid from Australia

    I can highly recommend Gavin’s podcast ! I have followed Gavin’s blog since the very beginning and have loved to see his journey unfold. Gavin has a lovely speaking voice so this podcast is always very easy to listen to. Gavin has a very authentic approach to his green living lifestyle. He shares the ups and downs but always provides motivation and practical steps that we can all implement.

  • very good
    June 28, 2015 by Scared pax from United Kingdom

    This is a great podcast if you want to improve your life in so many aspects and become a more sustainable person. I love the soothing voice, the good pace, and it contains lots of useful information. Recommended!

  • opened my eyes
    May 25, 2015 by Gorn4lyfe from Australia

    A wonderful show!

  • Inspiring
    April 30, 2015 by Alan Whelan from Ireland

    This is a great podcast if you're looking for practical info on saving money by living more sustainably from someone who's made that journey over the last few years. Told in a nice, easy conversational style

  • Green Living, inspiring and practical
    January 8, 2015 by EliseMac from Australia

    Thanks Gav for sharing what has (and hasn't) worked along your journey for living a greener lifestyle. Inspiring and achievable for anyone, I look forward to this podcast weekly.

  • Local food equals less waste
    December 27, 2014 by allotmentadventureswithjean from Australia

    Another brilliant podcast from Gavin Webber encouraging us, and showing us how, to cut down on food miles, growing our own food, and cutting down on food waste. Gavin is a really interesting speaker, showing us how to eat better, growing our own food and how to live more sustainably.

  • Honestly australian
    December 15, 2014 by HodgepodgeOz from Australia

    Fantastic podcast, with a wide variety of well thought and researched topics. Gavin is a honest, forthright pod aster with a genuine interest in helping others get green. Like a day alongside is a day wasted, so too is a week without listening to Gavin. Highly recommended for people starting out, or those in the midst of their new lifestyle. Keep it up Gavin, wish there were more great reviews! Kimberley

  • Morning motivation
    December 8, 2014 by Bunnyworm from Australia

    Gavin has a great passion for living this greener lifestyle that motivates others to do the same. The podcasts are always interesting and informative. :)

  • Passionate Advocate
    October 18, 2014 by BoomOpGirl from Australia

    Gavin's enthusiasm and passion for creating a more sustainable world is nothing short of contagious. Thanks Gav, you are my weekly source of motivation for living a sustainable life! :)

  • Gavin speaks from the heart
    October 13, 2014 by Green gavin from Australia

    Gavin's podcasts are required listening for anyone planning to live a more sustainable life. He doesn't preach, but tells you his story from the heart. You'll laugh, smile, share in his concerns and along the way you'll pick up some great tips on living a simple life.

  • Green thoughts, so well iterated
    October 9, 2014 by Kwasikwami from Australia

    This is a wonderful podcast. Not only does Gavin talk knowledgeably on a range of sustainability topics from gardening tips all the way to the issues facing humanity as a whole, but he does so in such a wonderful voice, it's like listening to my Dad, love it!!

  • Easy listening inspiration on being green
    September 24, 2014 by Broomedy from Australia

    Gav knows how to share his journey to a more sustainable life in a manner that shows just how easy it really is. Not to mention healthier, economically beneficial and generally rewarding. The podcasts are an easy way to absorb Gav's great lifestyle. I recommend to anyone.

  • Thanks Gavin!
    August 31, 2014 by Honeywoodmilk from Australia

    Great practical advice for a greener lifestyle. This podcast is for anybody interested in growing their own food in suburbia, saving electricity, brewing beer, making cheese, all that wonderful business and most of all, saving money! Thanks Gavin, love the podcast mate!

  • Enjoyed those ideas for staying warm
    August 15, 2014 by enduringdragon from United States

    Like you we are having winter here in Chile—brrr! Every bit we can save on heating we will.

  • Green Podcasts
    July 26, 2014 by Carneu from Australia

    Excellent podcasts, which are full of information to help get started on a sustainable lifestyle.

  • Practical ideas and inspiration
    July 19, 2014 by HeathrowHeath from Australia

    I highly recommend Gavin's podcast and blog. Down to earth, entertaining and inspirational. Thank you.

  • Interesting & easy to listen to
    April 27, 2014 by Velocity3 from New Zealand

    Gavin & his guests make this green journey lots of fun.

  • Great green listen
    April 18, 2014 by Obscurenickname from Australia

    Gavin is a great down to earth, tell it like it is aussie with a passion for sustainability and growing food and making cheese

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