ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Wanna be Debt Free?

Updated on June 15, 2010

Let's Talk Debt-Free

It's been fun talking about credit scores, but now I have a question about a related topic.

Great! The Oracle of Personal Finance is pleased to discuss all aspects of individual financial responsibility.

What's the deal with being debt free?

Ahhh... many folks have come to me in search of this holy grail. Being debt free has emerged as the new new thing.

What does it mean to be debt free?

To summarize, you don't owe nobody nothing.

I borrowed a cup of sugar from my neighbor to make a smoothie. Does that count?

My my, you are pedantic. No, that isn't what "debt free" actually means. We refer only to money.

What a relief. I still have his weed whacker in my garage.

With the money you save from being free of debt, you can purchase your own yard care implements.

Wow! Where can I order this debt-free stuff? Is there a web site I can click on?

Not exactly. Becoming debtless requires perseverance, patience, and perspicuity. You should also think about becoming penurious.

Evidently I should also invest in a dictionary.

Regardless of your literary aspirations, you can probably become free of debt if you are willing to work at it.

What's the first step?

Pay off all your (financial) debts.

Check. What's next?

Stop borrowing money.

oops. I borrowed money to pay off my debts.

That's what we in the business refer to as "The debt cycle." Breaking out of the cycle is difficult to do.

It sure is. Every morning I pay for my mega mocha frappe on my VISA card. I get the impression you disapprove.

This man never used a credit card.
This man never used a credit card.

I'm not judging you, but financing your morning coffee will not break you out of the debt cycle. Consider paying cash for small purchases. Studies indicate that consumers spend more money when they use a credit card instead of real money.


Not really. How much debt are you carrying?

Let's see... I have a mortgage, a second mortgage, several credit cards, a third mortgage, my neighbor's weed wacker...

Do you carry a balance on your credit cards?

Of course. I can't afford to pay all that money every month.

Break the debt cycle by paying down those credit cards as soon as possible. You are probably paying exorbitant interest rates.

They may not be exorbitant, but I think they are really high.

Credit card interest rates tend to be both high and exorbitant. Regardless of our choice of adjectives, work hard to reduce and eliminate credit card debt. That's the first step to becoming debt-free.

OK. Thanks again for the useful info. Want to share a smoothie with me?

I'll pass, but I do have some yard work...


    0 of 8192 characters used
    Post Comment

    • profile image 8 years ago

      Sound advice, thanks Nicomp. MANAGEMENT of the money! At the end of the day no matter how much you make what counts is how you MANAGE it. Even lottery winners are broke within a few years if they don't do this right - a common statistic.


    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)