Dealing With Debt – Part 1
Should I make becoming debt-free a goal?
Debt is not an uncommon occurrence (at least not in America). Is it even possible to live a life free of it? In order to get to and from your job, you need to purchase a car which requires debt. To own a home, you need a mortgage which is a debt to purchase a home. You need to further your education to give yourself and your family an advantage, this requires a student loan which is debt. Even if it’s possible to live without, what do you do if it doesn’t seem possible in your situation?
In this post, I’m not going to convince you that living debt-free is the right move for you or that living with debt is your answer. In either case, you still need to tame it. Pamela and I totally understand. We’ve often wondered how people live without having any debt when it seemed like the only solution for us to ‘survive’. Then we’ve heard others (many we respect) mention that they’ve had it all their life and don’t see an end in view. What is the right answer for you?
Choosing Your Debt
You may not be aware of this, but living without debt is a choice just like living with debt is a choice. The choice in either case is yours and I want you to make up your mind what works for you in either case.
Face it everyone is not going to eliminate all their debts. People who have the discipline and fortitude to do such are not “common”. I’ve seen people wish they were free of it and even pray for God to make them debt-free. I’ve seen people pressured to get out of debt, something they never intended on doing nor wanted to do in the 1st place. Most (51% or better) live their entire life with some type of debt. There are people who will never spend one day on earth without some type of debt. The point is this, you should make the choice on whether you wish to live with or without debt and once that choice is made, make your plans from that decision.
Today is Friday!
I am in no way advocating that going into debt it the best solution or that it’s okay. It’s not my intent to convince you in either direction, but I am going to try to talk you into having a plan for debt (and everything else) that works for you. Once you make this choice then you can plan accordingly to make your life, your business the best possible.