Several months ago my family paid off the last of our consumer debt.  We only owe money on the house and have a decent fixed rate.  I love it.  I love being able to buy things with cash.  I love not having any concerns around making credit card payments…. I love not having student loan payments. No car payments.  Nothing.  In a few years we won’t have a mortgage payment either.

Freaking awesome.

If I want to change jobs, no big deal.  If I want to change careers, it will take time but I can pay for it all.  With cash.

I look forward to buying things because I don’t any pangs of guilt when it’s paid for.

So, you think this sounds good and you want in on it.  GOOD!  Here’s what you need to do:

  1. Learn how to budget and stick with it.
  2. Pay off all of your debt except the mortgage…. this will take you some time… It took us 3.5 years.
  3. Build an emergency fund
  4. Save for retirement and kids college.
  5. Pay off the house and become incredibly wealthy.

What’s holding you back?  For us, a combination of stupidity, not having a workable, realistic budget and deciding it was time finally got us on our feet and on a program.  Take the time to decide what your financial goals are and how you will achieve those.  You can do it.  It’s worth the time, the effort and even the sacrifice to be able to say “We’re DEBT FREE!”