After you have mastered how to be debt free, you continue on to live a debt free live. Debt free living is the best way to live because you have a lot of freedom. Freedom not only financially, but that extends beyond your finances. When your finances are in order, you have the opportunity to do a lot of cool things. If you have paid off debt completely, you have the ability to get up and move on a moment’s notice.
Why Debt Free Living is Important
I have several friends who have gone into tons of college debt and are forced to get any job that they can in order to start paying back their college loans. They believed that the four years of college were important for them and avoided working part-time because they wanted to live it up. While getting the full experience of college is important for anyone, taking on lots of debt is unhealthy. Debt free living completely goes against this approach to life. It prioritizes the future as much as it does the present.
Debt free living is important because, as I mentioned, it offers you the ultimate freedom in life. It doesn’t mean that you won’t have any financial difficulties, but it will give you the upper hand. Instead of paying off debt your whole life, you can contribute money towards things that you want. Instead of having to pay interest on the loans that you owe, you can earn interest on the savings that you have because you don’t have those necessary expenses.
Debt free living is ultimately about prioritizing long-term savings goals over immediate satisfaction. Delayed gratification and the ability to control your spending is important to keep your finances in order. If you want to be debt free and get out of the downward spiral of debt, it all starts with a decision. The decisions that you are faced with on a regular basis will continue to challenge your resolve. The easiest way to resist unnecessary spending is through understanding the benefits of debt free living and using that life as motivation for controlling your behavior.
If you feel paralyzed and stuck in debt, you may be wanting to change. If you are wanting to get control of your finances, find the ultimate motivation to help sway your daily decisions and keep pushing until you achieve that goal. Once you get out of debt completely, celebrate your achievement and stay active in responsibly managing your finances.