I know that in about three months, I will be debt free and it’s going to feel so good. It’s going to take me about 2 years of very hard work and making sacrifices to achieve my goal of being debt free, (no car payments, no student’s loans, and no credit card debt). I can’t wait to see most of my money being distributed into my savings account, long term investments, retirement, and fun savings account for travel.
Bottom line, in order to make this goal achievable I have been living very frugal. Frugality is one of the most important things to be debt free.
The most important thing that I am going to take into consideration once I become debt free is to stay debt free, (aside from a future mortgage). Now a key point I’d like to point out is that becoming debt free is completely different than living debt free.
If I pay off my debt in a few months, and then I go buy a bunch of crap I don’t even need, it will make no sense and it won’t be the thing I call “vivir debt-free.”
3. Stop buying clothes. If you have to go to goodwill all the time to give old stuff away you don’t need more clothing. There’s a new fashion every month, (good luck trying to keep up).
4. Don’t go and buy a SUV Tahoe or Range Rover “solo para impresionar people” It will be cool for six months, but on you 2nd year of making payments you’re going to hate it. Besides you don’t need if you don’t have at least 3 kids.
5. Don’t go to buy a Flat screen T.V. and surround system for 5K and sign up for cable platinum for $300/ mo.
Being debt free gives you choices.
Save up
Pay off debt
Buy the things on you priority list with “cash only”
Puedes vivir debt-free?
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