Joy of being Debt free

My husband and myself have 25 more months on our debt management plan before we will be debt free excluding our house (which you can't really consider to be a debt). Both of us are completely frustrated with being in debt to people. However, that was a mistake that we made in our past that we have to live with. In the last year and a half we've learned to live without credit cards, so we've definitely made changes in our lives that will last throughout the rest of our lives.

I was debt-free until I got married. Anyway we also had tried having credit card debts but somehow we were able to manage it. If ever we had any past due accounts, we make sure to clear them by the second month. But as of now, we are able to pay our monthly credit card dues. We currently have house loans right now. Though it is a debt, we consider it as a good one as we have purchased something that would appreciate in value over time. So it is basically an investment. I really want to get rid of debts as soon as possible. I just don't like having debts. But it really would take me a little more time just to be debt-free.

the credit cards are the things that get most into trouble because they think the money that they are using are theirs and seem to forget about the high interest rates that the credit card companies use. best not to use them!

I have just started using credit card but I am only using it to spend money that I am going to spend anyways...I trackk all my expenses and pay the whole amount immediately. I am just using the credit card to build my credit and also to earn rewards..I'd like to think I am being wise by doing this so I really hope I am right...=)

Sorry ... I am from the other camp. I believe debts are good. But mortgage loans. Not credit card loans. I have been in debt for almost 15 years now. I started with one lakh, reached 14.5 lakhs, and today I am at 9.5 lakhs, and I am contemplating another 3. I believe in borrowing till the very end of my life. :) It is how you plan your finances I suppose. I'd rather borrow 3 lakhs from bank, and pay monthly installment of 7500 for 5 years. You'd think that is ridiculous. But I would get almost 15 percent per annum from reliable sources. So that would cover almost half that debt. I would only be paying 3750 per month for that 3 lakh. Moreover, I would claim tax rebates under rental income as well. Effectively, I could be paying much less. Five years later, even if I pull out the monies from 15 percent, and put in that post office - I get 2000 per month for the rest of my life! But yes, you should know a reliable source of getting 15 percent per annum receivable every month. :)

I can't wait to be debt free, so I can get into debt again. lol

I feel he just wanted to share his problem with you. We get the gifts for everyone whom we love to speak to. So dont just jump into a conclusion, instead wait for some more time. He would like to be more friendly with you. He would have considered a great friend to discuss his problems. Everyone cannot become close.

My husband and I have been working very hard at this for the last several years. I absolutely hate being in debt. We have paid off several things over the years that wanted to have in our life. We are now down to two big bills which one of them consists of the home mortgage. That si alot of money to pay off and will take quite some time but it will happen if we work hard at it.

Debt sucks all the joy out of living. The funny thing is that it is voluntary. We in the U.S. get into debt not out of necessity but because we want things we can't afford. I'm fortunate in that I went through debt and paid it off and I will never go into debt again for material things. It's a wonderful feeling to be free of debt. Right now I only owe for my house and I could easily offload it and be free.

The borrower is a slave to the lenderEspecially in this day & age, everything can be "owned" by installmentThey never tell you that you don't really own it until you've fully paid for it

Oh, I can only imagine the happiness and cheerfulness that would come from being debt free. I do own my car and that is a good feeling. It demands discipline too. Once you let yourself get off the beaten track then you are lost and it happens fast and furious. There are places that help people get back on track but even then it can be difficult to get back on track.

Being in debt can added a lot of unneeded stress to our lives. The constant worry and struggle of paying debts can be overwhelming. Once we can erase some of those debts it really does ease the burden.

I wish I could live debt free. I have two credit cards that I am trying to pay off. I was hoping to start paying them off, but with the bad economy I am unable to. My husband is now working part-time and he is our only major source of income. I have been looking for a job, but with only one vehicle and my husband not having set hours it is hard. I am hoping to make money online soon so I can start paying off the old debt. My debt is only 900.00 which I know is not much, but when you only have a part-time income to live off of it is hard. Maybe with our tax return I can pay it off. After paying off the credit cards then I will only have the mortgage to pay off (I have 15 nore years to go). I am glad that you are able to live debt free and wish you all the best. If you have any advice please share with me.

Being debt free is a joyous, joyous thing is it not. I think that many people would enjoy having that burden being lifted from their shoulders once and for all. Where they do not have to worry for another moment about being in the clutches of debt. It is quite a great thing to be free of the clutches of the monstrous burden that debt brings to us. It is a dream of many people. Sadly it is something people never escape. The interest keeps piling on from the back end and then the hole of debt gets dug deeper and deeper into everything. Still it is a good thing when debt is completely shed. Hopefully we would be able to remove those shackles of life and have a debt free world for all. I know, a naive dream, but I can only hope.

...Hi there, That is so great. We don't even realize how much of our money is going to pay interest and being wasted month after month, year after year. Just paying the minimum payment because we like the time we are given to pay the bill. Not thinking or not caring maybe that we are being defrauded in essence and our money is being thrown away as we make companies rich. Good for you that you are wise and did what it took to free yourself. Congrats.

Sometime we need money our purse doesn't permit. In such an emergency one must borrow money from different sources. Sometimes your friends give you some money without asking for interest. However as long as you can't pay back it seems like a burden. If the interest is high it may even feel suffocating. We work hard and save money to pay those debts. It may take months or even years to save enough money to pay both the principal and the interest. You need to sacrifice a lot of things just to save the amount. You want to buy a few things for you, but you don't. You want to buy a new television or a PlayStation but then you remember that you need to pay the debt so ultimately you don't buy anything for yourself. This goes on for years. But once you pay off the debt it feels as if a heavy load is lifted off from your chest. It really feels good to get out of debt.

Debt free is one of my ultimate goal and dream! I can't wait to get out of this worries and money problems! Debt is such a headache!

The last two years before the previous year, I've been swiper-happy with my cards. Soon, I found my self deeply indebted. So I vowed that I'd pay off those debts and be debt free forever, or if not possible to keep debts at a reasonable, breathable amount. It's been a year now that I'm trying to pay my debts off, and it is so fulfilling seeing the amount go down.

It's everyone's dream to be debt free. But with some emergency big expenses that would crop up sometimes, you cannot help but be in debt, just to remedy it. This happens to people who are not rich of course. But i think, even those rich people have even bigger loans because they have a bigger capacity to pay.

How I wish that I am debt free. This debt is not actually a choice but a necessity. We got a house loan and God knows when we will be able to finish paying the amortization. I hope soon! And thus I say I am free after that! Haha!