Many of my friends laugh at my commitment to stay debt free. Part of the reason is that they don’t want to think about how hard it will be for them to get out of debt. You see, they are carrying tens and tens of thousands of dollars in debt from their college degree. They either weren’t able to find a job in college or didn’t care to, so they are stuck paying monthly payment for the next few years.

Because they have used debt and are starting to become okay with living in debt, they don’t seem to understand the benefits of living debt free. In fact, it seems like more and more people are moving this way.

Living In Debt = Bondage

Yet, people in debt know the bondage that comes with it. Every single month it comes knocking at your door when the next payment is due. There is no escaping it. You can’t just say that it’s too much to handle for this month or that you would prefer not to pay it this month. Once you are in debt, you are bound to pay it back. Either that or ruin your credit and eventually file for bankruptcy. But, this is no way to live.

No Debt = Freedom

While some people say that they would much rather build up their income than focus on paying down debt, this is a horrible way to live. There’s no guarantee that your income will be there next month, but there is a guarantee that the debt will. Sure, the odds of losing your job unexpectedly are slim. But, that’s not the only reason why living debt free is better.

As it turns out, having no debt gives you so many more possibilities. You are able to minimize your expenses. You can change jobs if you want. You can follow your dreams. You can do a lot of things because you are not bound to pay back money. The only expenses you incur are the ones that you establish for yourself in the present.

Talk about freedom.

Living in the black and no the red is a much better way to live. There’s less stress. You don’t have to worry about paying the debt payment each month or how much interest you are paying. You can relax and not pay for it later.