Why Debt Free Matters

Photo Credit Les Kertay

Someone asked me the other day if we were still doing that "money thing", I answered "yes" if you mean the debt free thing.  "Doesn't it get boring?" was the next question.

The honest answer is no.. it never gets boring to be debt free and work to maintain that status. It never gets boring  knowing that at any moment you are prepared for a lot of what life can throw at you. From needing a new ride to being able to not think twice about taking an abandoned sick puppy to the vet.

There is a freedom beyond measure knowing you can help a friend in dire straights without it putting your own monthly budget in jeopardy.

What is does mean is buying a used car ( for cash) when the world finances new cars like the Kardashian's go through husbands. It means vacations that are planned and paid for with cash and home remodeling is done in phases ( again for cash) and not with a HELOC or running up a credit card.

It means still getting weekly allowances and using cash for all  family purchases like groceries and fast food splurges.  ( No money no splurges)

It means putting money in devoted micro savings accounts (love these through ING) each month so that come Christmas all the cash is there ready and waiting and when property tax times comes the money is waiting for us, we are not waiting to pay based on scraping up money  and praying no one needs anything serious in the mean time. This feeling is priceless  and yet the work to get there is hard but it can also be one of the best things you will ever do for your marriage. Not to mention one of the best examples you will ever set for your children.

There are a wide number of ways to go about becoming debt free and learning to create and maintain a proactive budget and stick to it! Back when we became debt free we did the whole Dave Ramsey plan (Total Money Makeover) and it is the one I recommend when asked. 

This is not just something that can be done by those with a healthy income. I have seen single mothers with multiple children do this.. I have seen retired folks break their bonds of debt .. this is doable for everyone and anyone if you are willing to make the commitment to make it happen. It is hard but oh so worth it.

Thinking about being debt free?..  got questions?.. leave them here and I will answer if I can!


WelcomeToMyWonderland said...

Hello! :)

I just wanted to comment and say that your post really inspired me. As a young professional that has struggled with debt for years, I would love any advice you can share!

Love your blog! :)


Maddie Kertay- The Domestic Anarchist said...

Dear Vanessa,

Good for you that you are ready and working on a new way of living.. it really is a mindset change to dig deep and find the place in yourself where you really commit to becoming debt free.

The first step is a real budget and finding out how much real debt you have- sounds silly but most people don't know how much they really owe. By knowing that number- no matter how big of scary you can then form a plan. For the best advice on this I suggest A trip to the library and check out.. The Total Money Makeover by Dave Ramsey. - .. you can do it!

WelcomeToMyWonderland said...

I will definately be picking that book up for reading...and I had started on the list of debt before...amazing how much you don't think of!
Getting an up to date credit report this year really opened my eyes. I'll be working on steady payments to resolve that...and sticking to a budget! I added up an extra spending from last month...over three hundred dollars! Makes you sick thinking of it!

Thanks for your help! Always nice meeting helpful people through blogging :)