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Become Debt Free
Financially Free or Debt Free Living
Would you like to become debt free or financially free? If you do we first need to define what debt free and financially free means to you. I think the term financially free can mean different things to different people depending on their perspective. Any one can be financially free and not necessarily debt free.
Financially free could mean earning so much money that you can't spend it all. Not to many of us fall into that category but some do. Maybe financially free means to you being debt free. No home mortgage, no car payments, no personal loan payments.
Or does financially free simply mean living within your means.
As you can see, you need to come up with your own definition of financially free. It's a personal decision. I agree that it may be impossible to choose to earn more money than you could possibly spend but you could choose to spend less than you earn. If this is your choice then I think you fall into one of the two latter definitions.
If you really want to become debt free then you must stop creating more debt. Get rid of the credit cards. I know its comforting to have them and there lies the problem. We tend to use them, not when we need them but when we want something and don't have the cash to pay for it and that mountain of debt keeps getting higher and higher. Do you need a new car or do you just want one. What's wrong with your old car? Probably nothing, so we just want it and there we go creating more debt.
However you define financially free you must commit to your definition or you'll never get there. The first step is to stop that mountain of debt from getting any higher.
When you've accomplished that you can begin your plan to get out of debt. Start paying down your debt a little at a time. Every little bit helps. To become financially free will require discipline and determination on your part. It can be done and in less time than you may think.
As I said somewhere else on this site: You have to eat an elephant one bite at time.
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