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Remember That Time When You Were Debt Free?

Did a feeling of peace come over you when you read this title? It did for me when I read this in my office kitchen today. I immediately went back to a place in time when I had zero debt. I was young.

I started accruing debt in the form of student loans when I was in college and I am still working on paying them off today. That loan is next on my hit list and I’m close to paying it off in full.

What age were you when you started accruing debt?

Life is so much simpler when you have no debt. You know you could quit your job and move anytime you want (unless you have a family to consider). You have no financial worries and no financial stress. That’s a place that everyone wants to be.

If you have a debt goal and a plan then you are going down the right path. Keep digging away and eventually you and I will both be debt free. Getting rid of debt that is not tied to an asset is priority number one for me. It’s also important to consider how I got into debt so I don’t repeat my mistakes.

I recently paid of my car loan. It took me three years to pay off a five year loan and I only paid it off early because I focused on eliminating that debt over the last year. I should never have bought a car I couldn’t afford to pay cash for. I began to hate having a monthly expense that was eating into my cash flow and charging me interest. Now that I’ve paid off that loan I have more money each month to use to pay off my student loans.

My student loans are a different story. I would probably have had to take a small loan to pay for my college tuition no matter what but I should have approached my finances differently. When I was in school I was lazy! I should have worked more and played less. That’s a mistake that many college students make but it’s the reason that I still have a student loan today. I can’t wait for it to be gone.

I can remember what it was like to be debt free, I’m sure you can too. It’s a nice feeling and it’s one that should not be reserved for youth.