I’m pretty lucky, I had only amassed about $2,500 in debt before realizing the major repercussions that came along with it. At the time I felt like credit cards were my passage into adulthood. I had no problem applying for credit cards and then maxing them out within a week.
At the time paying off $2,500 worth of debt seem liked a huge feat. And considering the income I was bringing in, it really was.
Once I found my reason why debt wasn’t worth it the sacrifices became easy and little by little I slowly started lowering my balances.
I realize that in comparison to people with massive student loans my $2,500 bill would be a blessing. But here’s the thing, we’re all on different paths. It doesn’t matter the amount of debt you’ve accumulated, you can pay if off.
And paying it back becomes easier when you find your reasons why.
My Reasons Why
A lot of people think you need to have your entire life planned out before having a baby. I believe the opposite is true.
When you all of a sudden have another human being that is depending on you, your entire views on life begin to change. I had both of my kids at a fairly young age (22 and 23) and I can’t tell you how much I seemingly matured overnight. A lot of that maturity came in the way of personal finances.
I lost my sense of selfishness and what used to be about me was now about them.
Fast forward six years from having my first daughter and I live completely debt free! I wouldn’t have it any other way. I don’t want my kids to see me stressing about money or trying to scrape together enough cash to get by. I don’t want to have to depend on anyone but myself and financially, I don’t want my kids depending on anyone but me.
I want my two daughters to have an amazing life. THAT is the reason behind all of my goals!
When you have a good enough reason “why” you can conquer any goal you set whether that be getting rid of your debt or just avoiding it altogether.
What’s Your Reason Why?
Now, don’t get me wrong I’m not saying that you need to have kids in order to become debt free. You just have to find your reason why.
In the words of one of my favorite personal finance bloggers “When you have a strong reason why it becomes less about what you’re giving up and more about what you’re gaining.”
So what will you gain by getting rid of your debt? Peace of mind? Improved finances? A sense of freedom?
Dig deep, find your reason why, make a plan and take action. That might sound over simplistic but personal finance IS simple.
Will getting rid of your debt require hard word and sacrifice? Absolutely. Will it be worth it in the end? No doubt about it.
Do you know your reason why?