photo by wallyg
For many people, being debt-free is a lifetime goal that is always out of reach. It’s funny, you go to work, eat and sleep for years and the next thing you know you’re hundreds even thousands of dollars in debt. Being debt-free is a great goal to have and the benefits are endless. Just like anything it takes sacrifice, focus and dedication to obtain. So my question to you today is what would you do if you had no debt?
Benefits of Being Debt-Free:
- Sense of ownership – Let’s face it, if you are making mortgage payments each month, you don’t own your home, at at least not yet. Can you imagine what kind of world you would live in with that payment going into your pocket each month?
- Better Sleep – I know you have had at least one night in your life were you couldn’t sleep. For some people it’s due to a broken heart but for many it is from the stress of not knowing where your next dollar will come from.
- Aggressiveness - Without the weight of excessive debt you can tolerate much more risk; the only person you have to answer to is yourself.
- Confidence – How many people do you know that have zero debt and can get served at a bar? (Not many!)
- The Ability to Save – Saving money is such a under-rated part of wealth. When you can save money while enjoying a great lifestyle the world is yours for the taking!
This list can go on forever and ever. However, these words are easy to write and hard manifest. The next time you are about to unload your shopping cart make sure you weigh the benefits of a Gucci purse against a life without debt and all the baggage that comes with it.
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2 Comments until now.
You are absolutely right Rick. Debt is like a crushing weight chaining us to a lifestyle.
Really, the loss of debt is the gaining of freedom.
The documentary Maxed Out is a great look at a nation in debt, and a stern warning to individuals about the nightmare side of unplayable debt.
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