” Why do you need to get out of debt? Debt can be a driving force for you to work harder. It is not forever…why are you punishing yourself?
These are the questions that ordinary people throw at me as we started our journey on getting out of debt early this year.
Well, I thought about the top reasons why I need to get out of debt. Each of us has different reasons but as for me and my hubby, the following are our top reasons why we need to get out of debt as fast as we can.
Top Reasons to Get Out of Debt
#1. Get out of the stress of paying bills – It can be very stressful for us to live in the cycle of paycheck to paycheck. Always thinking about ways on how to pay our bills on time added to that are the unforeseen expenses that gives us financial heart attack. It can surely give us a great relief if we are done paying all our bills. This lessens the stress and the risks of health problems associated with stress. It helps also to maintain great marriage.
“Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.” – Romans 13:8
#2. Enjoy our income – We are actually receiving more than average income. But when there are so many things to pay, we are not able to enjoy the fruits of our labor. We just look at it as it enters our bank account and say goodbye to it as we pay our bills. Some people around me will say, ” Ang importante may pambayad ka”. Yup, that is true but I don’t want that scenario for a longer period of time in my life. ” You work too hard to get to the end of your life and have nothing to show for it.” -Dave Ramsey
” The rich rules over the poor, and the borrower is the slave of the lender.” – Proverbs 22:7
#3. Build our children’s future – With more financial room, we can save,invest and acquire outright assets for our children’s future. They will not have to start from zero.
“A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.” – Proverbs 13:22
#4. Build our family’s dream -We can build our dream house and spend for our dream vacation without the guilt from borrowing money. To work on towards our dream career is also one of the benefits of getting out of debt. To be able to do what we really love and not just because of getting paid.
“And God is able to make all grace abound to you, so that having all sufficiency in all things at all times, you may abound in every good work. “– 2 Corinthians 9:8
#5. Teach our children good money habit – We are our children’s most influential teacher. Whatever they see that we are doing, they will surely follow. It is best that we show them that they don’t have to live under the bondage of debt. It is possible to live and stay debt-free.
“Train up a child in the way he should go,and when he is old he will not depart from it.” – Proverbs 22:6
#6. Give more – Getting out of debt will allow us to give more.You cannot give what you don’t have. So definitely if we are not making any payments we can help others all the more.
“For if the willingness is there, the gift is acceptable according to what one has, not according to what one does not have.” – 2 Corinthians 8:12
I can give you a lot of reasons why we need to be debt-free but these are my top reasons. What’s yours? Feel free to leave us a comment below. If you want to read more blog posts from me, don’t forget to subscribe.
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