Yes, my wife and I have been debt free for 5-years now. With a little sacrificing it can be done. We are not participating in this recession because of being debt free!!!!!
Our family doesn't use debt, either. It does take some getting used to. I've written a short hub about the difference it makes over the course your life. But, If you give me a couple weeks, I'll publish one that directly answers how you can live without a credit score, credit cards, or car loans.
Yes! There are so many ways to live debt free. Really depends how much debt you have as to what path you take.
There is no mystery. As long as you make a goodly amount of money and have no major medical bills, you can live debt-free. All the "financial gurus" tell you to live within your means. Easier said than done for most peons as we move towards third-world status. Assuming a decent income, be prudent in your expenses. But remember, you can't reduce your expenses to zero (unless dead). So, bottom line, a decent income is required.
My wife and I make a modest amount of money, but also have no debt either. Pay with it for cash, or if you can't afford it, go without. It's that simple.
Absolutely. I've been living debt free for a long time and I help my clients achieve that status every day. Bottom line you have to make as much money as possible, spend less than you make, and set aside money for the things you want until you have the cash to pay for them. You cannot borrow your way to wealth. You can only create wealth by earning money and not spending it all. The part you don't spend is the most important because that can buy you your financial freedom.
Yes, you can live debt free, but you may not live for free. I have said for years "Get all the miles out of your money you can" not that I am a penny-pinching tight wad... I lived on a sailboat for many years, and learned a great deal on the difference between want and need.
You NEED: food, shelter, water to survive.
You WANT: To make the above be as comfortable as possible.
What WE tend to do: Fill ALL THE ABOVE with "stuff" we haven't paid for yet, that most likely, we will never even touch again, and forget we even have.
Stop being a hamster on the credit wheel. Cut your cards, and pay them off.
YOU WILL BE MUCH HAPPIER!!! Go camping where it's free, save some money on vacation!
It is very possible it just takes some readjusting most of the time of your lifestyle choices. Most of my clients in bankruptcy learn to readjust their spending to avoid future debt and sometimes refuse to ever use a credit card again. For me one of the mind sets that helps is to always think when you are purchasing an items if its a need or a want. If its simply something you want but don't need then you should really think if you can afford it. If you are going to put it on the credit card because you don't have the money at that time to pay for it then you cannot afford it.
it is very possible! Here are some ways in which you can eliminate debt in your life, and these are all things that people actually do. try buying used cars with cash instead of buying a new car. How would your monthly budget look if you had no car payment? That would be nice, right? Also, try getting rid of your credit cards. Make yourself a rule, saying that if you cannot buy it with money that is YOURS, you will not buy it.
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