Debt Free Living | Debt Free 

Live a Debt Free Life. You deserve it. It’s yours to enjoy. 

If you borrow money – Pay it back!

There’s a proverb, which says: The rich rules over the poor, and the Borrower is Servant to the Lender.    Proverbs 22:7

My friend, if you expect to move forward, financially, being debt-free will propel you much faster to your financial goals.

Work at paying off your debts as soon as possible. Don’t get caught up in all the marketing strategies, which financial institutions aggressively advertise through the media, promising you easy loans with low-interest rates, or something like this:

“You don’t make your first payment until three (3) months, later …….”

If you sit down and calculate how much money you will really be paying back after you take that loan for 4, 5, 10, 20 years or more, you will be amazed at the amount of interest you will be paying.

I’ll give you an example:

Back in 1994, Carl had qualified to borrow $100,000.00 from a particular bank, for a certain amount of years, but after calculating how much he would be paying back at the end of that term – He declined. He said he would have had to pay back about $325,000.00

So, he decided to raise the $100,000.00 without a loan. And he did reach his financial target in record time.

You see, my friend, when you don’t owe anyone, you feel empowered. You feel free. So make it a goal to become debt-free. If you are owed money to any financial institution, craft a precise plan and specific time, when you would be debt-free, and execute that plan as promised.

And after you have paid off your loan, I would encourage you not to spend that extra money, which you have available now, on things or services.

Instead, continue to take that same monthly installment, which you were paying towards your loan, and invest it where you can get the best returns. This is a positive cash flow. And it will make you feel financially empowered.

I know of one individual who as soon as he pays off a loan – Goes straight back into another. Not because he needs it, you know, but because it is available to him.

Sir, resist that temptation!

If you continue to practice this habit, instead of going forward economically, you will be going backward.

You will always be living on borrowed money.

When you have cleared your loan, it’s not time to use that extra money to spend, but to save and invest.

Please get into the habit of living within your means. If you have to borrow money for basic needs, then you are most likely living above your means.

Develop the habit of SAVING & INVESTING.

The same way you have made a habit of borrowing, make a habit of saving and investing.

There’s no need to go to either extreme, though: Being stingy or being a spendthrift.

The following true story is an example of someone who made borrowing a lifestyle. Learn from his mistakes.

Jack was an individual who worked for over $8000.00 / month and had a wife, and one child to take care of. Yet, every single month, without fail, Jack would run out of money within one (1) week’s time, after he got paid…..And would have to borrow money just to buy even the most basic of needs.

Why was this so?

My friend, this was so because Jack operated without a budget. Yes! That dreaded ‘B’ word.

He felt a budget was too restricting for him. He wanted to able to spend freely and profusely as he pleased, without worrying about consequences. But the truth is: Nowhere in the world is this possible.

In fact, even those individuals who own billions have to operate with a budget. If they don’t: Those billions could be gone easily and quickly.

My friend, could you believe Jack thought his problem was: He didn’t work for enough money?

He thought he needed ‘More Money’ to be able to live comfortably. At least, so he kept confessing month after month.

But my friend, Jack’s problem was not more money. His problem was: Money Management – Effectively managing what he did have.

Because you and I can both tell of individuals who made millions of dollars, yet, were broke in a short period of time. This was so because they lacked: Money Management.

My friend, if you don’t manage your money, wisely – You would blow away whatever monies you do have in a short

period of time, and then wonder where all that money you once had, went. Apply financial wisdom, by: Paying off your debts and managing the money you do have.

Now I know there are some individuals who borrow money for investment purposes, or to open a business, or expand an existing one….these loans might be necessary at specific times. However, I would still encourage any such individual that if they can invest or start a business or keep an existing one without borrowing, to do so.

I know there are some who believe there is good and bad debt. Their rule of thought is:

Bad debt is one that you use to spend on yourself and your present lifestyle.

Good debt is one taken to invest or to start or expand an existing business.


But my friends, despite diverse beliefs about borrowing money: I still believe the words of the wisest and richest king who ever lived: King Solomon.

“…..The borrower is servant to the lender”.

I don’t know about you, but I don’t want to be held enslaved to anyone, in any form, at any time. All in all, my friend, you have the power to choose to borrow or not to borrow. Choose wisely!

The above piece was taken from the book ‘How To Make Money Today, Tomorrow & Everyday’.

Obtain Your Copy Now by Clicking on the link above.

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Money Saving Tips: If You Invest the Money Saved from Applying these Tips, Wisely, You could Generate Over $240,000.