Why Debt Free is Important

Being debt-free is important for those who want to decide how their money is spend instead of giving the added income in the form of interest to banks and loan companies. Imagine how it would feel to be 100% free from all debt.

Good Debt vs Bad Debt

Financial Security is when you feel stable and safe in terms of your money. One major drawback of debt is that you are always thinking about where to get your next dollar from and who to pay it to first.

Good Debt vs Bad Debt

Being debt-free gives you financial security

Your credit score is a “grade” assigned to you based on how fast and reliably you have paid off loans in the past. If you have a high credit score, you will be more likely to get loans at great rates.

No debt means improved credit scores

Time is one of the best tools we have for acquiring wealth. The quicker you are done with debt payments, the faster you will be able to save money.

Not owing money gives you an increased ability to save and build wealth

Did you hear about a great stock to invest in? You can do it! Need to repair your car? You no longer have to juggle your debts to find money to take care of things.

When you are debt-free, you have finanical agility

When children see you creating your budget, saving money towards big purchases, and working towards building wealth they will learn to do the same.

Being debt-free sets a good example for your children

Do you want to travel more? Learn a new skill? Pick up an old hobby? When you have all debt payments gone, you will have increased opportunities to pursue your hobbies.

No debt allows you to pursue your hobbies


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