“Lieutenant Dan got me invested in some kind of fruit company. So then I got a call from him, saying we don’t have to worry about money no more. And I said, that’s good! One less thing”. — Forrest Gump
Being out of debt will certainly be one welcome less thing to worry about. I can’t say that I really worry about money (or much of anything) since worrying doesn’t do any good. But, not having debt to factor into our budget has got to be a great thing.
Sometimes, I get so caught up with wanting to be out of debt that I start to forget why it’s important to me. Here’s some reasons.
- I don’t want to owe anyone — including my bank — any money. Owe nothing but love, ya know?
- The money has to be repaid eventually, so I might as well pay it as fast as possible to be done with it and to minimize the amount of interest we pay.
- Once we have our last debt paid, it will be like getting a tax-free raise. That minimum payment takes up a good portion of our monthly spending, and when that’s out of here, we’ll be able to free up that money for something else.
- Living will cost less.
- We’ll be living within our means.
- The lower our expenses, the easier it will be on us if we lost our income.
- We’ll have more money to do the things we want, such as saving for retirement, saving for our son’s college, saving for a down payment on a house, vacations, and other fun things. Anything has to be more fun than paying interest!
What are your reasons?
My post was inspired by Mrs Micah