Getting debt free is one of the best things that you can do for your family. It can take you from a place of constant stress, sleepless nights and bickering with your spouse to a much more peaceful existence.
Life is beautiful and is meant to be spent enjoying time with friends and family. When we are Under the burden of debt we have to give most of our income over to our bill collectors. We are then forced to live on whatever little money we have left. Our relationships become strained as we cope with making our pennies stretch. We have less quality time with our children. Our time with our spouse is spent arguing about finances instead of creating wonderful memories.
Take a minute to imagine what life would be like with no bills. For starters, imagine that you only have your regular monthly expenses like groceries, gas and utilities. You can include your mortgage into the equation for now. Add up your total and subtract it from your monthly income sources. This is how much you would have left over to save or invest if you were debt free. Now imagine if your mortgage was gone too. That is how people become wealthy.
So how about you? Do you want to become wealthy? Are you willing to do the work necessary to get there? The choice is yours, but there is no magic bullet to getting rid of it. You have attack it with lots of energy. You can’t continue doing the same things and expect a different result.
The first step to ditching debt is to take a look and be realistic about hoW much you have. You may think you only have $5,000 in debt, but it may in fact be $12,000. Write all of your debts down. Whether you choose to pay them off in order of debt size or interest rate get rid of them. Intensity is key. Every extra penny should be devoted to ditching debt. This should include tax return money, overtime money and any other extra money that comes your way.
Now that you are properly motivated, get to it ! Get debt free !