Getting out of debt is tough and if anyone tells you otherwise they are either lying or delusional. And being debt free is a goal I never thought I’d reach.
But thankfully, after much hard work and dedication, I paid off $14,000 in just over a year. To do this I was living on 2/3rds of my income and cut back my lifestyle to almost nothing.
But for me it was totally worth it! Because having control over your money and dictating how you spend it is, well…priceless. The sacrifice is definitely worth the reward in the end.
The scary truth
Once the excitement of paying off all my debt wore off, I slowly discovered there’s a big downside to living debt free. It’s not something many people talk about, or at least I never hear it mentioned much. What is this downside?
It’s the fear and temptation of getting back into debt. It seems like everywhere I go there’s a credit card or loan application being thrown at me. And people are pulling at me left and right to spend more money.
It’s very overwhelming.
Our whole society is geared towards getting into debt and staying in debt for a long, long time. It’s actually a daily struggle to stay out of debt, because the idea of being in debt is so widely accepted and mainstream that I look like a crazy person for saying “no” all the time.
It’s an uphill battle
Not a lot of people talk about life after debt, but for many of us it’s a harsh slap in the face once reality sets in. Even normal purchases scare me into wondering if I’ve overextended myself. Then the fear of evolving back into a debt filled lifestyle slowly creeps into my mind.
After working so hard to become debt free, I found a life without debt is also very difficult. It seems like an uphill battle no matter what stage of life you’re in.
There are still uncertainties and money concerns like, how I’ll pay my bills, if I can afford certain things and if I’ll make enough money.
Whether you’re paying off debt or living a life after debt, the fact remains – you need to spend money to survive. Which means it’s a daily struggle.
The economy does not cater to people trying to forge out their financial path, without the use of debt. And it’s definitely not nice to those of us who are going against the grain.
And then there’s the questions.
Can you really save enough money? What is enough? Will you ever reach true financial independence away from the loan sharks, big banks and endless credit card applications?
Is it worth it?
But even with all those questions running around in my head and the constant struggle every day, I’d still prefer to live a life without debt. Instead of my fate being placed into the hands of a debt collection agency or a bank, I control it.
No matter how alarming that perspective may seem at times, it still leaves me with hope. The hope that I have the potential to overcome any financial obstacle placed in my way and unlimited possibilities to create a life worth living – without debt.
That kind of freedom is totally worth it!
Are you struggling with life after debt? What’s your biggest worry about living a debt free life?