Admit it, we all know that debt is bad. For those who don’t mind carrying balances on credit cards or believe student loans are “good debt” know that it would probably be a good thing to pay it off. For some, paying it ALL off has become a priority – but why? Paying off debt is a pain in the butt, so there has to be REASON.
A couple with $112,000 in debt asked “Are we going to be miserable in order for this to work?”
I replied “Aren’t you miserable already?”
- Reduce Stress / Save Marriage
- Save for retirement
- Save for kid’s education
- Save for daughter’s wedding
- Start a small business
- Buy a hobby farm
- Buy a second home
PS – Notice that Reason #1 is the ONLY one you can’t pay for, but it does have a cost.
What is your reason? What would you do in order to WIN with money? What is holding you back? Think about your answer carefully, make sure it is a reason and not an excuse.