Cost of Money
The ‘cost’ of money is represented by the rate of interest. Although the interest rate is a variable based on credit worthiness and time, a standard is the US 10 yr. bond. This rate has been falling for almost 40 years. Everyone under age 50 has never observed a period where ‘money’ costs were going up. 
Easy money (low interest rates) makes borrowing from the future practical. Currently common everyday expenses are paid with a ‘credit’ card. This was not possible or common one generation ago. People used their savings for daily living and all expenses other than their home.
The transition into a high debt system has been a slow process. As money becomes more expensive, the ability to pay by borrowing from the future will become rare.
When you cannot afford higher payments, you must cut back. Standards of living will drop. This has not happened for a very long time.
Debt was a nasty concept for my grandparents. I expect the reality of this understanding to grow in the near future.
Governments and bands have created currency to keep interest rates low. This will result in hyper inflation. Costs of food and fuel will vault higher. Earnings and wages will not keep up. Economies will fail.
Today is a good time to be out of debt. The world debt can’t be paid. The future generations will not pay for past borrowing. They will rewrite the rules.
A revolution is coming.
Here is today’s beauty.
Do you remember the HFC commercials from back in the day? I can remember not understanding what Household Finance was.... LOL. Such a change. I'm old school... however I got caught up in the debt thing in the 90s... I've learned my lesson. I hope your younger readers heed your wisdom and experience. Cheers.
The shift in Finland to increase debt has been incredible since I came here 15 years ago. Then very few had personal debt outside homes but now, they are selling family assets to take ever increasingly expensive purchases on low interest rate loans. The collapse is coming.
I think what we are missing in the cost of money is the lose of purchasing power of that money (inflation). If we did add this to the cost of money people might understand how bad the current problem is.
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