I’ve Paid for this Twice Already is a blog about one family’s journey toward financial freedom. I like the spirit the writer—a 30-something married mom of two with a PhD in Genetics and a 3rd degree blackbelt in taekwondo—brings to the project.
For instance:
Debt used to be a very basic part of my life. It was not just a tool I could use to live beyond our immediate needs, it was practically a lifestyle choice. The amount of money people (people meaning banks, credit cards, etc) would lend me to finance my future was a very real consideration in all the choices I made in the here and now.
But through this debt reduction and ultimately elimination journey, at some point I made a very real, concrete change in my brain. Although I am not strictly anti-debt, I don’t believe in debt any more as a fundamental part of my life. I don’t put my faith in the financing of others to create the life that I want to live.
That’s how my grandpa felt about the subject. When it comes to our modern day approach to money, a lot has changed in this country in a very short period of time. And it’s pretty clear the Depression era attitude towards debt is the healthier one, especially in terms of an individual’s debt or a family’s debt. I do think businesses sometimes need to take on debt in order to grow.
{ 2 comments… read them below or add one }
it is critical to be in a healthy financial position. You need a proper credit score to acquire debt when you do need it, but you should also keep your debt to a minimum. The amount of money each person owes in this country from personal debt is astounding. It’s a worse situation when you have been responsible and your credit report shows errors; I’ve seen multiple cases, we repair credit reports.
I have just moved to Egypt and there are a lot of extremely poor people here. However borrowing is not an option to them! I am in debt so therefore I live my life in debt and not on my own money! On paper I am poorer than these people but strangely our modern lifestyle allows us to fake being financially secure by signing away our future!!! It’s based on possible expectations of what we can earn…
I am now putting myself on the path to no debt and I see it as a form of enlightenment…
Thanks for the post,
Forest.