Posts Tagged ‘Debt Freedom’
Why Being Debt Free is Good
Debt is a burden.
Debt is a burden. It’s a burden to your future. It’s a burden to your family. Debt is also a financial burden that can keep you from accomplishing goals and dreams or even basic necessities like paying bills, saving money and providing for yourself and loved ones
It’s easy to forget this when we’re caught up in our day-to-day lives with all the responsibilities of adulthood: work, relationships, homes and children… but debt should be something we think about often because it could hold us back from reaching our full potential in life
Debt is a hole.
It’s not something that you can fill with money or work, and it will keep growing until you figure out how to deal with it.
If you have debt, there are some things that will help you dig out of it:
Debt is a trap.
You can’t get out of debt without changing your spending habits. You can’t get out of debt without changing your income. And you can’t get out of debt without changing your attitude towards money and wealth. If you want to be free from the shackles that are keeping you down, then you need to start working on all three areas at once!
Debt can be like being in prison, you’ve earned some and didn’t earn some.
Debt is like being in prison. It’s a trap, a burden that holds you back from doing what you want with your life.
If you’re in debt, it can feel like there is no way out and that you will never be free of it. But the truth is there are ways to get out of debt, even if they require sacrifice and hard work.
Debt takes away our freedom of choice.
Debt is often a burden. A debt can constrain your choices, making them much more limited. You don’t have the option to do something that you are passionate about because it doesn’t pay enough or because it will take too long for the return on investment. That’s why many people choose to go into debt instead of pursuing what they really want in life: a job that they love doing, traveling with their family, or taking care of their health and body through exercise and dieting.
Debt traps us into working harder at jobs we don’t like just to maintain our living standards which were created by overusing credit cards during good times when we were under the impression that no one would ever go bankrupt again! We end up spending more time working than with family members or friends so our lives become boring and meaningless; even worse yet we may feel trapped at work due to an ugly divorce settlement where half of everything has been given away (including homes).
Debt robs us of our dreams.
Being in debt robs us of our dreams. We can’t afford to do the things we want to do, like travel the world and pay off the house, because we have bills to pay each month. If you are struggling with debt and you want to start saving for retirement or your child’s college education, but don’t know where the money will come from—you need a plan so that you can finally get out of debt!
Being in debt makes it difficult for us to live our lives as fully as possible. It weighs down on us every day when we think about how much money we owe other people and how much interest there is on those debts.
We are fighting debt to pass on the legacy of financial freedom to our children.
In the last few decades, teaching kids about money has become more important than ever.
As a matter of fact, it’s harder today than ever before to raise children who are financially literate and responsible. The world of personal finance is far from straightforward and simple anymore. The challenges we face as parents are real: saving for our kids’ education or retirement; ensuring they don’t get lost in the shuffle of debt; helping them cultivate good money habits and avoid bad ones; teaching them how to manage their own finances when they’re adults…the list goes on.
These days, young people have access to so many resources that help them understand financial concepts—but these resources can also be confusing or misleading if we don’t guide our children along the way with sound advice grounded in reality. And while we do have some tools at our disposal (like this page!), there’s no substitute for having conversations with your kids directly about money matters like interest rates, compound interest rates and inflation—and then following up with more questions later on down the road when they’re older!
Debt is not a necessary part of life, and I am glad we are able to show others that it is possible to live without it. It may take some sacrifice, but in the long run it is so worth it!