Because you cannot go wrong saving money, and it is hard to regret that you did, but you can certainly regret making purchases. So many ladies know the feeling of having bought some shoes or clothes that don’t fit them properly or are not as flattering as initially envisioned and that they end up never using. Or we all have bought objects carried away with some momentary interest, only to abandon them in a corner gathering dust, after just a few uses.
Because avoiding debt, or making it a priority to pay it back as soon as possible, gives you a feeling of independence and opens up more opportunities. For instance, should you have a smaller debt or ideally no debt at all, you do not feel so stressed out in your job, because you know that if you were to lose the job you will not lose the roof over your head and you will not starve (if you have savings and the skills to find work even at lower wages). This in turn allows you to take more risks and to speak your mind because you know that you are not at the mercy of your management. Moreover, with no debt, some savings and frugal living habits, you can imagine that you could start a small business or take a sabbatical. All of the sudden, life has so much more to offer.
Because it is so much cooler to make big purchases in cash or with a huge pay down. Have you ever seen the face of the seller when you buy a car in cash, or that of you notary when you inform them that you will give over 50% pay down for your (expensive) home? Let me tell you, it is priceless.
Because you are not owned by your employer and by your bank. If you are in debt up to your eyeballs, you are more inclined to dance to the tune of your boss and put up with his every whim, you are more subservient, less likely to take risks at work, and, possibly, a worse colleague. Let me explain the last one, in case it is not so obvious to you. Some people, with a lot of debt and not too many skills, will desperately hold on to a job and do not hesitate for a second to back-stab their more capable colleagues, should they perceive them as a threat to their position in the organisation. Also, if you do not learn to control your spending and pay up your debts, you will never be free from working as an employee. As for the bank, ask yourself, every once in a while, who owns your home. Is it you or is it your bank? If you have consumer debts, you are effectively putting yourself in a position of servant to the employers and to the banks until you pay those debts. Some people never pay those debts…
Spend less, save more, pay back all your debts, LIVE FREE!
Because avoiding debt, or making it a priority to pay it back as soon as possible, gives you a feeling of independence and opens up more opportunities. For instance, should you have a smaller debt or ideally no debt at all, you do not feel so stressed out in your job, because you know that if you were to lose the job you will not lose the roof over your head and you will not starve (if you have savings and the skills to find work even at lower wages). This in turn allows you to take more risks and to speak your mind because you know that you are not at the mercy of your management. Moreover, with no debt, some savings and frugal living habits, you can imagine that you could start a small business or take a sabbatical. All of the sudden, life has so much more to offer.
Because it is so much cooler to make big purchases in cash or with a huge pay down. Have you ever seen the face of the seller when you buy a car in cash, or that of you notary when you inform them that you will give over 50% pay down for your (expensive) home? Let me tell you, it is priceless.
Because you are not owned by your employer and by your bank. If you are in debt up to your eyeballs, you are more inclined to dance to the tune of your boss and put up with his every whim, you are more subservient, less likely to take risks at work, and, possibly, a worse colleague. Let me explain the last one, in case it is not so obvious to you. Some people, with a lot of debt and not too many skills, will desperately hold on to a job and do not hesitate for a second to back-stab their more capable colleagues, should they perceive them as a threat to their position in the organisation. Also, if you do not learn to control your spending and pay up your debts, you will never be free from working as an employee. As for the bank, ask yourself, every once in a while, who owns your home. Is it you or is it your bank? If you have consumer debts, you are effectively putting yourself in a position of servant to the employers and to the banks until you pay those debts. Some people never pay those debts…
Spend less, save more, pay back all your debts, LIVE FREE!