Nothing could be more comforting than the thought that you do not have any debts to pay, whether in the form of loans or credit card bills.
Though you may have been led to believe that charging your expenses is cool and hip, the truth that lies with the phrase cash is king is undeniable.
Buy the things you need whenever you have the cash to back it up.
If not, then do not make any hasty purchases.
To lead a debt free life ought to be quite enjoyable and relaxing.
Though you will still need to pay for the monthly consumption of utilities such as electricity, water, telephone and cable services, as well as for your essential human needs, you are exempted from receiving calls from irate collectors or creditors demanding that you pay your loan or credit card.
There will always be the temptation to take on a loan especially if you want to spend on a major capital expenditure like a lot, a house, a car or to finance your business.
The choice between trying to live within your means and living dangerously is always there.
The decision remains with you if you want to succumb or not.
You might think that saving up for your dream house and lot or car might take you some time.
Nevertheless, you may opt to make some wise investments that offer reasonable returns, which you can use in buying what you want.
In case you believe that you have enough to apply for a credit facility, simply make sure that the one you choose is suited to your financial capabilities.
In most bankruptcy cases, the individual has no idea of his income sources and resources, hence he becomes a victim of his own ignorance.
Having a debt free life has its own rewards.
The best part of it is going to sleep at night without any worries that your loan or bill might be due tomorrow.