If you are like most people, you don’t like debt. There is no way to sugar coat it, owing someone money just isn’t the type of thing that brings peace or happiness into ones life. Sure, most people have debt of some kind, but I haven’t met anyone with debt that enjoys watching the compounding interest, paying the monthly payments, nor owing someone something. No matter how you look at it, debt just stinks.
After my boyfriend and I paid off all of our debts last year, we vowed to never go back to that place, ever again. No matter what. And in making sure that we remain debt-free, there are some things that we just simply don’t do anymore. Not only do they not make any sense, but we just simply know better now.
Don’t waste time
This is a big one. I’ve noticed a vast difference between the way people who think from a debt-free perspective approach time management from those who do not.
Don’t neglect building your savings
Let me say this first: You do not have to be debt-free to build up a savings account. We had a very healthy savings account even when we had debt. It is tempting to believe that you can’t have any savings when you are focusing on paying off debt. But this simply isn’t true.
Even if your finances are crazy tight with no budget at all, you can still put away something small. Maybe start off by putting away $5 or $10 a paycheck. Then as you continue to pay off your debt you can bump it up to $20 or $30. And then go up from there. The point really isn’t how much money you are saving, rather that you are saving.
Don’t waste the opportunity to make money
As anyone who is either already debt-free or striving to become debt-free already knows, becoming debt-free is not something that just happens by chance. You have to make a plan and work that plan until your goal is accomplished. Don’t stop.
Don’t waste money
I’ve found that once we became debt-free, we were even more frugal than before. And being raised as a 4th generation frugal mom, I can say I was already extremely tight with a penny. There are a lot of things that we’ve found to help us save more money without even having to spend the time to do so. (financialmomma.com).