Is it not the goal of every responsible adult to be completely debt-free and achieve the financial freedom? The term ‘debt-free’ seems to be a misnomer these days, what with the state of the world economy. Not a lot of people can pay for cash upfront to buy a house or a car. I know I can’t. Heck I don’t even have savings. There I said it. It’s horrible, and says a lot about my financial planning skills, but it’s a fact.
Yet, the money that I’ve been earning the past couple of years have slowly helped us get out of debt. We have made a lot of it when we were starting out as a family, and I’m truly grateful for the people who assisted us financially during those trying times. We may not still be completely debt-free to this day, but I have paid off most of the major ones and I don’t want to add anymore to that. Which is the major reason why I don’t have a credit card.
It takes a lot of discipline and patience to live a life with minimum debt. When I want to buy something, I save up for it and pay for it in cash. I have been urged dozens of times before to get a credit card, but I declined, not wanting to have the temptation to spend more than what I can earn.
Nobody said it was going to be easy, but it can be done. Slowly but surely, we can all crawl our way out of debt. And maybe even have a lot of savings on the side.