Saturday, April 29, 2017

Become Debt Free - Here's Why It's Important!

Some people think becoming debt free is just a question of improving your credit rating. Why even be concerned with your credit rating? Is it because you want to borrow even more? You may be missing a very important aspect of good financial stewardship...

It is quite stressful for many people that a large part of their monthly income is spent trying to bring down their debts. Most of these people would never say this out loud, but I am quite sure they feel they are in slavery to their banks, credit cards and all other creditors.

There is a better way!

You CAN become debt free.

You need to think wisely about this. The Chinese have a proverb that says "a rich man is a man that doesn't owe anybody anything"

This is a good proverb. :-)

You MUST learn to free yourself from materialism if you want a happy and stress-free life. Cut back on expenses you don't really need. Changing your ISP [Internet Service Provider], reviewing the costs of your television service provider. Check each of your monthly costs, and define whether it is something you want to continue paying for, or whether you should let it go, and save the money for either bringing down some of your debt combined with a savings account or bringing down your debts entirely.

It is common sense to realize that interest bearing debt should be eliminated. The more you pay there, the less you will be working to bring revenue to others.

Once you start to think again, you will realize that getting out of debt IS the solution to become financially free again. I admit this is hard work, but no one ever promised you that life would be easy peasy every single day did they?

Have a nice weekend everyone. :-)

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