Debt Free Living

Debt Free Living - Tough As It Sounds

Imagine everything that debt free living would imply:

• No credit cards - every time you use that credit card, you are assuming debt.
• No mortgages - home loans are huge debts, meaning unless you own a home outright there is no hope in debt free living unless you rent.
• No car loans, no school loans, no lines of credit - nothing. Its all you and your income.

Living 100% debt free is a luxury reserved for the insanely rich, the insanely old, and the insanely stupid. There ARE benefits to certain types of debt - lets take a look at those, and see why you might want to consider avoiding those overzealous debt free programs.

The cost of debt free living

Debt free living would mean taking away debts - even the good kinds of debt. And that shouldn't happen, especially in a world where certain debts can indeed lead to incredible profits. Take student loans - millions of Americans are faced with the prospect of incredibly large debts because of student loans, and their goals of debt free living usually include violent oaths against those loans and a regret for ever taking them out. But look at the benefits: while an education today doesn't mean what t used to, its basically essential for anyone looking to get ahead - or even get a decent job.

Some debts are extremely important investments!

Steps to debt freedom

Instead of focusing on complete debt free living, pay attention to the debts that really matter the ones that cause the most damage for the least benefit. Revolving credit card debt is just such an example - all you are paying for is extra time to pay off past expenses. Worthless - and this debt needs to be eliminated. Debt Relief Freedom means honing in on those debts that do more harm than good, and your efforts for debt free living need to be focused on those.

But the dream of debt free living exists, and indeed it is an attainable dream. just make sure you don't sacrifice important investments or assets in your quest for complete debt freedom.

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