Quite Possibly The Best Reason To Get Out of Debt
Date: Saturday, July 05 @ 07:37:01 MST
Topic: Finance
Some people want to get out of debt because it's a necessity. They are behind on bills and their marriage is hanging on by a thread. They may not know where their next paycheck is coming from and how to pay the electricity bill due this Friday.
Others want to get out of debt because the stress of remembering to pay all of the credit cards and car payments on time each month is too much to handle. These people may not be behind on payments, but they know there must be another way.
The reason my wife Christine and I decided to get out of debt a number of years ago was for another reason all together. While we were faithful givers to our church each week, we wanted to do more. We wanted to go beyond just giving to our church. We wanted to help friends, neighbors and anyone else that we saw was struggling and needed a hand.
It was our experience that, while we could help these people a little bit, we couldn't give like we really wanted to; not while we were in debt. For us, giving became our driving force and main motivation for becoming debt free.
While it is nice not to have the stress that comes with paying the credit cards, car payments and student loans each month, becoming debt free has really freed up our income to help those around us in many ways.
What is your motivation for becoming debt-free? Maybe you want to follow your passion instead of working at the job you are currently stuck in, just to pay the bills. Do you want to have the freedom to move to another city, state or country but it seems too risky with all of the debt hanging over your head? Will becoming debt-free will improve your marriage and other relationships?
You can identify your reason, formulate a plan and follow it, or do nothing after reading this article. It is your choice. Here is a worksheet that my wife and I follow faithfully each year to help keep us on track.
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Justin Lukasavige is a Personal & Business Coach and owner of Lukas Coaching. Visit www.lukascoaching.com/resources.htm for a ton of free tools to help you improve your health, finances, business, career & life!
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