I want to talk about debt for a minute. I got married a few years ago. I can’t work, and my husband had to go through the adjustment of paying for what he wanted to then having to pay for what two people wanted. We did really well financially for a while, but over time, we accrued a couple dogs, a car payment, and a large medical bill, and some student loans. And now we’re looking at having a baby in just a few months.
Right now, we’re in debt. Thankfully, we’re not in extreme debt, but debt none-the-less. We have about $30,000 to pay off, most of which is for a car payment. I’ll admit, we made some poor financial decisions in the past, and now we’re paying for them.
Debt really holds people back. The best thing you can do is get rid of debt. I know our debt is taking up about $1,000 a month in payments. It’s going to be so amazing once we get everything paid off! $1,000 extra a month to do whatever we want with! And for others, I know this number is more.
Money doesn’t buy happiness, but enough money definitely buys convenience and peace of mind. Those two things do go a fair way with making you comfortable, if not happy. Pay off debt! It may take a while, but you have to do it! Debt makes you beholden to other people. When you get your paycheck, it’s mostly not even yours. With debt, there’s basically a line of people waiting for a cut of that check before the month even begins! The best financial thing you can do is to pay off debt. Forget about investing your money if you have debt, because even if you make money, all you’re doing is paying down interest that accrued while you were making those investments.