Why You Need To Be Debt Free

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The holidays, especially Christmas is a great time to intentionally think about being debt free.  You will find a million articles on how to get out of debt, but there aren’t as many that talk about why you should get out of debt. I want to change that because if you don’t know why you’re doing it…chances are you aren’t going to be successful with it. These are just a few of the many reasons you should get out of debt today.



Reduced Stress

You may not even realize it but carrying debt means carrying stress. Even if you’re paying all your bills on time and there is no one calling you to find out where their money is, you still have stress about that debt. Consider any time you’ve paid off a debt in the past. You felt a weight lift off your shoulders, didn’t you? That’s the stress that debt was giving you leaving for good. Now imagine what it would be like to be rid of all of your debts. I can’t promise you that you will be stress-free, but, you will have a hefty weight lifted off your shoulders.


Increased Financial Security

It’s a well-known fact that most Americans today couldn’t cover a $400 emergency. What isn’t discussed is the fact that so much of this comes down to the fact that they have debt. When you aren’t having to give your hard-earned money to other people to pay off debt you are able to save more. Saving more means that when a $400 emergency comes along you can take care of it no sweat. If your car breaks down, and it will break down eventually, you won’t have to worry about replacing it or getting it fixed quite as much.


Having More Money to Spend on Things You Want

Not only will you have the security of being able to pay for emergencies out of pocket you’ll also have more money to spend on the things you want to spend it on. You will finally be able to take your family on that trip to Disneyland you’ve always wanted to take them on. Paying off debt means you will have more of your paycheck available to you to do anything you want with it. I do recommend most of it go into savings but I also think we all need to have a little bit of spending money too.


Being Guilt-Free About Shopping

Speaking of spending money, one of the best reasons in my opinion to be debt-free is that you are freed from the guilt of spending money. You know what I mean. When money is tight you feel guilty about spending $50 for a new dress or even buying a new pair of shoes when you desperately need them. Well let me tell you, that guilt disappears when you don’t have debt. Not completely mind you. But the threshold for what makes you feel guilty will go up. You won’t feel bad about a new pair of shoes anymore, it’ll take something more expensive like a weekend spa trip to bring out the guilt.


Helping Your Kids Have a Better Future

Being debt-free helps your kids have a better future in a lot of ways honestly. They grow up in a less stressful household, they learn money management skills, and you might even be able to pay for their college which means they don’t start adulthood with debt of their own. Getting out of debt is an amazing way to change the future of your family.

With all that 2020 had to offer, it is smart to consider and begin working your way to debt freedom.  I hope my tips of why being free from debt motivates you.  You should also consider reading Say Yes to No Debt by Dr. DeForest B. Soaries Jr, it is a great resource.  Either way, consider your journey to debt freedom today!

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LaToyia, The Motivated Mom


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