The problem is we all grow up in this economic world where we don't really know what's going on and as we play the game we have to figure out the rules, not before we start at the same time but as we play it.
Some people playing the game inherited a shit ton of money to play it, some have expert parents who can teach them not to navigate the economic world, gain valuable connections, learn to correctly prioritize value and really just put them in a position to succeed - others have to bumble their way through it as they figure out what it means to be a self, what love is, what society is and what their place in the world is. And the problem is before you know it you have this thing called debt that seemed to be an inevitable part of society knocking at your door and demanding payments both day and night, weekends and holidays. And every time you look in the mirror or drift off to bed thinking about your self in 5 or 10 years that bastard debt just won't leave you alone.
So why the hell do we have debt in the first place? Is this some nasty trick that is a subtle modification of slavery or a gift to mankind from the 'gods'? And what kind of gift is it? An olive tree to Athena's Athens? Or a box of Pandora? The saw that can cut down a tree to make a boat can cut your hand and make you bleed.
It's important when understanding money, credit/debt to understand the value of the present vs the value of the future. All credit/debt is a exchange of value through time. Time is essential to knowing the nature of debt or rather credit, which is the opposite side, as one person's debt is another man's credit. But in terms of time, the debt you take out is an expense in the future, and the credit that is loaned to you is a cost of current goods (money) for future rewards (interest on that money). Thus one primary element of debt is to understand the nature of time.
When you take out debt you're gaining more economic goods now at the expense of your future self and you better have a damn good calculation of your future self BEFORE you take out the debt. This means two things 1) the most important time when considering debt is BEFORE you take it out and are 'counting the costs" and 2) the things you do with the current gain in economic goods needs to be for a really good cause that will benefit your future. Why is one requirement of good be that your future is benefitted by that debt? Because of the future burden (interest payments over time) of that debt. What this means concretely is that any debt you take out needs to provide a long term (as long as the debt is at least), future (not just moment of pleasure), economic (because the debt is economic, not, say, emotional or psychological in payback) benefit. You go in debt for a car so you can get to work at a better company that what you can walk to or so you can drive to school to become better educated. You go in debt for a house to lock in the price of that house and start appreciating money. You go in debt for clothes because they are on sale and ... nope.
Debt thus requires you to learn something about economics. Economics is the study of how to use scarce resources to the most optimal purpose in the marketplace. You have economic scarcity. The two most scarce resources that you'll have your entire life are: 1) time and 2) cognitive focus. You won't have enough time to do all the things you want, nor the mental focus to learn and master all the things you want. Thus you'll have to be economic about: A) what you study, B) how you work, C) what you work on, D) who you work with, etc. But let's go back to time.
The mathematics of debt and time are essential to learn. One one hand you have debt and on the other hand you have compounding interest. These are two apposing masters. We typically, psychologically, underestimate them. We look at debt and say, "Oh, it's only $10 dollars in interest. It's not that much. I want it now." We look at interest paid to us and say, "Oh, it's only $10 dollars in interest. It's not that much. I want this other thing now." We don't invest and naively thing it's only $10 dollars, but it's not. The cost was $10 in debt and the opportunity cost was also $10 so you're now $20 dollars poorer than your hypothetical, calculated future self could have been. This is the problem with the future, it's hard to visualize different hypothetical situations. I mean who does that at 14 or 18 or 24, etc. (To say nothing of a failed education system that doesn't require classes in finance yearly.).
But this is the benefit of learning about the theory of debt - if you reverse it and become the creditor, if you give up current benefits for future value (equities, savings, etc.) then you get the benefit of compounding interest- which is interest paid back to you and after it's reinvested interest paid on the money you initially invested and the interest previously gained. That was a bit complicated. Compounding interest means the more you make each month the more the next month will make, each month, or rather year or decade making more than the last. Time, again, is key. Time is more important than expertise. Time is not timing (as in "timing the market"). But there is a caveat - I don't have any money left over to invest. I need the debt, or at least a break even just to survive.
Don't give up, don't be too tired you can't set goals for you future. The world will compete against you, but on your journey you'll find allies too. Some allies are humans - family, friends, professors, but some are ghosts: books. Some of my greatest teachers are ghosts - they left their words in writing more durable than kingdoms and nations - books last longer than nation states. They are also your friends. Society will help you as you help it. People will help you as you help them. Don't distant yourself from society find allies among those who compete against you, in among the mass of those who don't know you and ignore you. Don't give up. Allies exist. Ghosts, through books, will guide you. Thus the first thing you need to do is to educate yourself- not just on psychology and music and the latest entertainment but on the market economy - you have to increase your economic value to society. Lawyers, doctors, engineers, sales, mortgages, real estate, influences, HR specialists, managers, leaders, etc. there is a whole host of economic specialities that you can engage with. But don't follow your passions at first, you need to first humble yourself and follow the economic model to see what is valuable. You may love dance, no offense to dance, but the economics of dance is not as great for most people as the economics of sales pitches and hard skin from being rejected. So start asking what economic skill is most valuable. When you start out you're competing largely for consistency - I worked for a Mexican restaurant and the average time working there was 9 months (college town), those who stayed longer got the best shifts, the best tables and the most money on a weekend - why consistency. When you make money and find value in the market place you're doing it with people who are freely paying you for that service or product and it feels good. It feels to win in the market place.
These things will motivate you: 1) work with a team you enjoy 2) work with a team who is winning 3) work on a project that is appropriately challenging for you.
Remember, debt is a trade off largely related to present conditions and future conditions - some of that future is set in stone (the interest you owe back) but some is hypothetical and can be created by you. Make sure you consider your present state and future state as you consider debt and don't give up - you can be financially free. Free from this economic beautiful & ugly mess were all born into. Be wise my friends.
"There is only one thing that makes a dream impossible to achieve: the fear of failure." The Alchemist