The short answer is… YES!

I say this now and I’ll continue saying this in the future.  

“Freedom is a Choice”  

A lifestyle of freedom hinges on the decisions that we make, which goes beyond the large matters. Similar to a game of football and how games are won “in the trenches” because of key roles performed outside of the spotlight.

Our daily activities either push us towards our desired outcome, offer nothing to further our mission, or pull us away from what we’re trying to accomplish.  

Debt is a touchy topic. And it seems like everyone’s got it.

I vividly recall securing a new loan every 3-4 years so I could drive a new vehicle. Why not? The smell of a brand-new Audi sedan with leather interior is marvelous. And when a $60,000 loan is stretched over 5, 6, 7 or more years the notes appear manageable.  

On cue, the salesman drives this point home by comparing my salary to the car note, then he wraps all the tedious expenses into a tidy proposal. How nice for him to do that!  

Another kind of debt I blindly accepted as a cost of becoming an adult was college loans. Colleges appear to enroll anyone with a pulse, and I’ve met people saddled with 100,000 dollars of debt. Despite the cost, some of the degrees were essentially worthless.  

It’s difficult to build wealth or the financial stability needed to afford a family. But this is business as usual in America.  

The colleges don’t care. Tuition rates increase every year as more fees are collected to fund revenue-generating sports programs.

The federal government doesn’t bother with stepping in, because it’s banking on young Americans to boost its paltry balance sheet. Our all-knowing government has amassed a negative $75 trillion net worth.  

75,000,000,000,000 freaking dollars!  

Government assets come in at $4 trillion, and $1 trillion of that is student debt. The ship is sinking and bringing the futures of young Americans with it.  

So, what can we do in our situation?  

Don’t get sold on the hype slammed into our skulls by politicians touting the merits of the “American dream” or that voting for them is necessary for economic security. Based on the numbers reported, the government is insolvent and politicians are making promises they can’t deliver.  

On a positive note dreams can still come true, but now more than ever, we must assume 100% responsibility for them to occur. We must rely on our decision-making, grit, and persistence.  

There are many ways to become debt free like cutting expenses or using a debt management program, but today, we’re going to focus on why we should even bother with becoming debt free.  

Having no debt plays a foundational role in supporting our dreams. Here’s how:

Cash builds faster 

Your bank account grows faster when you don’t owe anyone. No duh! But if you haven’t experienced this yet, observing the growth every month becomes a source of calm instead of anxiety.  

Who in their right mind, would stop this magic after making the changes required to savor the sweet taste of victory?  

Budgeting enables opportunities 

Budgeting is no longer a bad word after arriving in debt-free land. Rather than simply putting money into the hands of creditors, the focus switches to paying yourself. Most people aren’t used to that.  

I definitely wasn’t. This is coming from a guy who had financial knowledge but didn’t act upon it.  

Learning basic finance is necessary to understand the many ways we’ll be paying ourselves for the remainder of our lives.  

Like Biggie said, “More money, more problems.”  

But we’ll gladly accept these “problems” compared to the options available in the past.  

Budgeting gives us the legs to chase active income opportunities, or maybe a situation calls for a passive investment, so moving funds does the trick.

I’m frequently in awe of the money making opportunites available around the world.  

Find inspiration in your workplace 

After becoming debt-free, you’re now able to transition from survive-mode to thrive-mode. So, use this time to discover what gets you excited. Do you want to: 

Follow a passion?  

Start a business?  

Work from anywhere in the world?  

Serve a cause? 

Accept a mentor role? 

Take a few swings, then take some more. It doesn’t matter if you miss when the end result is a better version of you. A lack of debt lets you absorb the losses and maximize the wins.  

Freedom is a Choice.  

Lee Miles