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What’s So Great About Being Debt Free?
Posted By Ron On November 7, 2011 @ 1:00 AM In Debt | Comments Disabled
What’s so great about being debt free? Would you believe that someone actually asked me that question? “Flabbergasted” wasn’t a strong enough word for me at that moment! As a matter of fact, I was so taken aback by the question that it stumped me for a minute, and made me step back and think — what IS so great about being debt free?
I understand the premise of the question and it WAS asked honestly. For someone brought up in a consumer culture, debt was a means of remaining a consumer, of keeping up with the Joneses, and having it all, now. Debt under those circumstances, is just means to an end and for too many consumers, the end (having stuff) justifies the means (debt).
For the record, I’m not 100% debt free just yet – I still have a mortgage  and one small student loan to pay off. But, I don’t believe all debt is bad. Mortgage  debt, student loan debt, and business loan debt can all help you better yourself by living in a nicer home, increasing your job possibilities, and getting a business off the ground. Though you want to get those types of debts paid as soon as possible, they aren’t like the life-sucking, income-draining, never-ending-pain-in-the-neck that high interest consumer debt is. That stuff is poison and you want to get it paid off quickly.
What’s so great about being debt free? Here’s a hint — it has the word “free.” (Read my book review of Debt Is Slavery )
I’m sure there are many more advantages but these quickly come to my mind. What about you?
What do YOU think is the best thing about being debt free – either now or one day in the future?
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 mortgage: http://www.thewisdomjournal.com/Blog/mortgage-basics/
 book review of Debt Is Slavery: http://www.thewisdomjournal.com/Blog/debt-is-slavery/
 confidently invest: http://www.thewisdomjournal.com/Blog/should-you-invest-while-youre-in-debt/
 strong emergency fund: http://www.thewisdomjournal.com/Blog/52-ways-to-save-8-months-of-expenses-in-your-emergency-fund/
 savings account: http://www.thewisdomjournal.com/Blog http://www.thewisdomjournal.com/Blog/go/savingsaccount.php/
 credit score: http://www.thewisdomjournal.com/Blog/go/myfico.php
 negotiate: http://www.thewisdomjournal.com/Blog/3-quick-negotiation-tips/
 Being able to shop around: http://www.thewisdomjournal.com/Blog/that-price-tag-is-a-liar/
 visit a pawn shop so I can put gas in my car: http://www.thewisdomjournal.com/Blog/my-worst-decision-ever/
 credit card: http://www.thewisdomjournal.com/Blog/credit-card-information/
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