Debt Free!

Debt-freeToday, I paid my debt in full. It’s not much, but it’s still a debt. It took me almost a year to complete my payment. It’s a tough ride. Here’s what I learned along the way:

You should not come back.

I am relieved. I feel like a free man. It’s such a great feeling to finally pay your debts in full. And if you learn from mistakes, you will never go back.

Good or bad, it is still a debt.

When we do dumb things, we rationalize. Well, in my experience, whether it is a good or bad debt, it is still a debt. You still need to pay for it instead of keeping your hard-earned money on your own pocket.

Plan and discipline are your tickets to freedom.

I made a detailed plan. I have a steady paycheck, a small business and some windfalls. I carefully planned where each penny will go. No brand new gadgets, no more dining out and no more luxuries. It served me well in the long run.

It doesn’t feel good to have a debt.

You’re a slave when you have debt. Don’t believe me? Proverbs 22:7 says, “The rich rules over the poor, And the borrower becomes the lender’s slave.” No one wants to become a slave. Yet, here we are, swiping those plastic cards, signing up to different debt schemes. It feels good to have those brand new gadgets, cars, houses and other things we buy through credit. But in the long run, it feels bad when it’s payment day. It doesn’t feel good.

So, what’s next? It will not be called freedom for nothing. Since you are now free of debts, you can now do anything good with your money. Start saving, investing and making more money. When debt starts knocking, say no and close the door.