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Debt-Free Living Leads To Peace Of Mind

By Stephen Losey

Are you sleeping as well as you should? If you have a lot of debt, probably not. If you owe a lot of money, it’s probably keeping you up at night worrying about how to repay it all. Wouldn’t it be great to be debt-free?

How to live free of debt is not a topic that most banks will discuss with you. After all, their bread and butter derives from the interest they make from loans and credit cards. If no one borrowed money from them, their business model wouldn’t work at all — they need consumer debt to make money.

That’s not going to happen, of course. Debt is now firmly ingrained in our culture. People hardly think twice about getting a loan — or running a credit card balance — in order to purchase things to make their lives easier. It used to be that most debt was backed by some kind of security — houses, cars, investments — but nowadays debt is being used to fund intangibles like vacations. This is a dangerous situation, because there’s no asset to sell that can be used to pay off (at least partially) the corresponding debt.

Banks make it easy to acquire debt, of course. They send out low-rate credit card offers all the time. They offer to extend you a line of credit for the equity you’ve built up in your home, nevermind that you haven’t even paid off the mortgage yet. Finance companies do it, too, offering no-interest or reduced-interest payment plans for buying cars, furniture, vacations, etc.

Don’t follow the crowd and wallow in debt, however. It’s hard to live free of debt, but it brings many advantages. The biggest advantage is that it brings peace of mind. When you live within your means and avoid large debt repayments, you’ll live a better life. You’ll be happier, your family will be happier, your friends will be happier. You’ll sleep better. You’ll feel better!

Going debt-free isn’t easy, of course. The first thing you need to do is to eliminate your current debt, which involves two steps. Step one is to stop increasing your debt — start paying for things using cash and stop buying things you can’t afford. Step two is to free up some money to start aggressively paying down your debt using the “debt snowball” method.

Once you’re debt-free, stay out of debt for the rest of your life. The only exception is your house, since it’s nearly impossible to buy a house these days without a mortgage. But do everything you can to pay off the house in a short a time as possible.

Eliminating debt takes effort, but it’s so worth it — you’ll feel incredibly free when it’s gone! Living free of debt used to be the norm. Do your best to recover this lost art!

Learn to live free of debt using simple debt elimination tips and techniques. See for even more information.

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Article Citation
MLA Style Citation:
Losey, Stephen "Debt-Free Living Leads To Peace Of Mind." Debt-Free Living Leads To Peace Of Mind. 3 Jul. 2010. 15 Feb 2016 <>.

APA Style Citation:
Losey, S (2010, July 3). Debt-Free Living Leads To Peace Of Mind. Retrieved February 15, 2016, from

Chicago Style Citation:
Losey, Stephen "Debt-Free Living Leads To Peace Of Mind"

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