Does all this debt-free stuff really make a difference? Does it really make sense to give up so much right now in order to have no payments in the future? Paying off debt is hard and takes sacrifice – and it’s a pain in the butt.
Sacrifice = Reward, right?
But doesn’t sacrifice come with a reward? When the CHOICE has been made to make a change in our lives and we ACT upon those choices, when we are consistent and purpose-driven, and when we eventually WIN then can’t we expect some payoff? If not then the hard work isn’t worth it.
Step 1 is to choose
My family is debt free and have CHOSEN to live within our means. Because of that we don’t HAVE to sacrifice. Heck, I could go out and get some loans and buy almost anything on credit – and I’ve been tempted to. But what really DRIVES me to stay debt free???
Answer: The Mortgage Statement
Every month I see the principle balance on our mortgage go down. I dream of the day when we have NO payments. With NO mortgage, NO car payments, NO student loans, and NO credit card debt what would we be able to do?
iPod Touch? No problem.
New computer? Top of the line model.
Cruise? Wherever we want.
Hot tub? New patio/deck? Remodel a room? Every few months if we wanted.
And best reason of all…
Give to our favorite causes/charities
There are some great organizations out there that could use our help. Broke people can’t help poor people so we committed to stop acting broke and get our family into a position to really give..
Keep moving forward. Don’t quit.
Get out of debt and STAY out of debt.
Sacrifice for a REASON. There IS a pot of gold at the end of THAT rainbow.
So very true! I’m also motivated by that pesky monthly mortgage statement. The wife and I are also debt free and working to pay the house off by living below our means. We’ve been able to balance “fun” with aggressively paying down the mortgage by making milestones in the payoff process. Once we hit a milestone in paying down the mortgage we “splurge” on something fun like a vacation or tech toy (me) or cool kitchen toy (the wife).
I have been working on becoming debt free going on 3 years in January and YES its a pain in the butt! However its so close I can taste it, and thats what keeps me motivated when I feel like giving up. Sometimes I get off track but when I don’t see my balances going down I jump right back into it. Being single has its challenges because on the good side there is NO accountability and on the bad side there is NO accountability lol.
I still can’t wait to be on the other side of things, if the short sale goes through on my house, come March 2011 I will be over 100,000 free of debt with no chance of returning!!
YES!!! Live like no one else, then you can LIVE like no one else, and give like no one else!!! Looking forward to the day myself…
My husband and I are debt free, including mortgages, but it didn’t take long after paying off our houses to realize that we never really own them outright. There’s still those pesky property taxes and insurance to pay. What we pay in taxes and insurance is slightly higher than our original mortgage payment was when we bought the house that’s our primary residence. I realize that our monthly expense would be even higher if we had mortgages, but there are still debts to be paid for a paid-for house, unfortunately.
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