ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to Live a Debt Free Life.

Updated on October 12, 2015

How to live Free from debts

There are lot people out there fall into debt problems is due to overspending and also laziness’ to go out to work.Overspending without knowing how much money is being spent and how much money is coming in. Some people fall into debt problems due to the failure of their business. Further, having gone through all these, when you decide to get advice from debt management companies they always charge high fees and in that you should seek an affordable solution like approaching charitable organizations which are specialized in these matters, and also they do not charge high fees.

When we live without debts, we will have peace of mind, there will be no need to be in fear of the bills.

To achieve this debt free life, we need to have to set a personal budget and keep our expenditure pattern according to that budget. Depending on the nature of one's job and the family expenditure, one has to come up with a perfect family budget in order to have some surplus cash available for the repayment of debts, it is important that husband and wife sit together to work out and agree to the family budgets. Both the husband and wife of a family have to consult each other about which expenditure is important and which is least important and has to cut down expenses accordingly. This will serve as a helping platform to create an action plan, determination and discipline to pay back the loans. It is also important that you should not get further loans to make up for your expenses. It is also an important aspect that you should find ways to improve your income, to help you plan your purchases. You should close all your credit card accounts and look into getting advice for debt consolidation or bankruptcy. The debt management companies out there will be able to advice on the best plan to suit your .circumstances.

You can ask the company to negotiate with your creditors to accept a minimum payment from you, or they can put you IVA plan as this will help you to come out of the debt sooner, but you will have to make a higher monthly payment.

Am I really debt free?

Mortgage debt sometimes can be considered as a good debt, as part of that payments will be saved as your investment for your future. If you are paying monthly rents you will be completely loosing that money. So, you are debt free as long as you have paid off all the other loans. On the other hand, we need the use of credit cards for some types of purchases. such as buying things on internet, the solution is to have a control over our daily purchases with the help of a budget. If we need to have good credit history we have to make use of the facilities available and alternatively have no credit history is also bad.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)