Time for an inspirational post today. There hasn’t been a post of 10 things on Debt Advice Blog for a while so I decided it was time to change that and came up with the idea of 10 Reasons why you should get out of debt.
Of course this could read as 10 Reasons why Rob should get out of debt but you get me right? It is also one week since I started this crazy thing of posting every day for 30 days. I kept it quiet because I thought I would fail but so far so good!
OK I think I have padded out the introduction now so here we go…
1. You will stop worrying about your Debt
If you get out of debt then you no longer have to worry about it. Of course that might mean you worry about something else but for a change it won’t be your debt! Sounds good doesn’t it?
2. No Debt means no debt holding you back
I don’t know about you but my debt seriously holds me back. I can’t get a mortgage, I have to watch every penny like a hawk and I spend most of my time thinking about debt. Debt Advice Blog is also to blame for the last part of that statement!
3. Simpler Finances
Less payments going out of your account each month, no more six monthly reviews of your debts asking you to increase payments. Oh how good it would be to just live like a normal person whatever one of those is.
4. Being able to Save without the guilt
When you are in debt you are stuck between a rock and a hard place when it comes to saving. Really you probably want to pay as much as you can off your debts. No debts means you can save without the guilt of not paying your debts because you don’t have any!
5. No more thinking about Debt
During the day I sometimes find my mind wandering off to Debtville wondering why I got into the situation I am in and what I would have done differently. If you don’t have debt you won’t think about it, well maybe you will but it would be theoretical debt as opposed to real debt.
6. You can spend a little and not feel guilty
So long as you can afford to buy something without using the plastic then you can buy that something and not think later “I should have used that money to pay off my debt”.
7. You will sleep better
With the amount of debt we are managing some sleepless nights happen, it’s the nature of debt. Without debt and assuming nothing else is going on in your life you should sleep better.
8. The feeling of being debt free is great
If you have read my about page you will see I am just plain irresponsible. When I became debt free from my first time in debt it felt amazing and was a big achievement. Sadly that was a short lived experience as I got into debt again only this time a whole lot worse. Don’t make the same mistakes! But yeah it was a great feeling at the time to be debt free.
9. You can help others with their Debt
Once you have escaped debt yourself you can share your experience with others who may need your help and support. Help and support really does help others because debt can really get people down. Because you will have gone through it all and reached the other side you can be like a mentor to those just starting their journey to becoming debt free.
10. You can break the cycle of Credit and Debt
Exclude me from this because I am a financial fool. However if you get out of debt and learn what got you into debt in the first place you can break the cycle. Instead of paying for things on credit you can save for them. Can I say this? Not really because I got into debt again but who knows hopefully the next time I become debt free I will have learned something!
That was easy, well apart from the last one because I can’t really say anything about that. However getting out of debt is a good thing and it can be fun. For example writing this blog has been fun, apart from when I felt burned out but that’s another story. The satisfaction of settling a single debt also gives you a good mental boost.
For you though, if you are thinking about starting to sort out debt then go for it, then share your stories here because we love to hear from you.