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What medieval life can teach about debt-free living

A think-tank in Britain has shed some interesting light on medieval debt-free living, putting today’s working lives into harsh perspective.

Asked what the 12th century lifestyle could teach modern Britain, he said: “Debt-free living; a lot of holidays and parties and a lack of work ethic; the idea of a ‘just price’ for goods; some aspects of the medieval guilds and the importance of craftsmanship; and a more spiritual response to money.”

A small farmer in the 1100s would be able to make enough money to live off while taking up to 170 days off a year, but since then work has gradually become more dominant in our lives, he said.

He estimated that a similar person in 1495 would need to work for 15 weeks of the year to earn a sufficient amount to live, while in 1564 the figure was 40 weeks and today most British households need two people on full-time incomes to maintain a home and family.

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