How do some people go through life living happy, content, debt free, and completely in control of their finances while others are living in a downward spiral of heavy debt, past due notices, and collection agencies calling every day?
What makes these two people different?
Is it income? Do rich people have less debt than poor people? The media will prove that myth wrong, look at celebrities who are faced with bankruptcy every day.
So what is it?
The Debt-Free person….
Is patient and self-disciplined as it relates to spending. They patiently wait and do not just purchase things on spur of the moment. If an item comes up that they want, they will set aside a savings to add to each week until they reach the amount needed to pay for the new item.
The debt free person understands that “the borrower is slave to the lender.” They know that if they borrow money, their future earnings are already spoken for and “owed” to the lender. They also realize that paying interest on that debt is money that can no longer be saved.
They learn to live on less. Most will find creative ways to fix things, or to do things. They realize that having “stuff” doesn’t bring them happiness. Happiness only comes from loving and serving others.
Debt free people don’t feel that they need to respond to society and achieve the status quo of what it says we should be. They avoid keeping up with the Jones’s. They realize that things are things. A car gets us from point A to point B, that is all that is necessary. They enjoy people and the simple things of life.
It seems the life of a debt free person, is a very content, peaceful life. Why would we want to live anyway else?