A debt free life

[Ricardo11]

Only those who earn 1000$ per month can stay debt free. And does everyone get paid like this? Every product in the market is priced out of reach. A middle class or a poor family will never be able to survive without debt unless they have a good source of income because they have a family they have to support themselves by any means necessary. A person's being debt free depends entirely on his source of income.

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[rodskee]

Can anyone ever live a debt free life? Have found out from people around me that no matter how hard one try to stay out of debt you still find yourself in debt..maybe because of the economy all around the world even though some countries are far better than some. Jobs are not paying well enough, businesses are not making sales as it supposed to there by making it difficult for one to live a debt free life

I think there is no one in this world that truly has no debt at least not in money but in
 reality of life, because some borrowed money while others borrowed time and others even borrowed Gratitude so
which one are you referring ?

If this is about Money , then indeed that everyone has debt or at least once in their life tried
to borrow money so  a debt free life is mostly for those person that value their obligation in life so they can keep being
Hungry than disturbing others for gratitude.

[kotajikikox]

Can anyone ever live a debt free life? Have found out from people around me that no matter how hard one try to stay out of debt you still find yourself in debt..maybe because of the economy all around the world even though some countries are far better than some. Jobs are not paying well enough, businesses are not making sales as it supposed to there by making it difficult for one to live a debt free life

Not sure if this is really possible because everyone in this world has debt , some are bigger while others are lesser . I mean but one thing is sure that all of us has debt or at least use to have one and planning to have more.
well I am one lucky person having a little credit now and hoping that will not have more in the coming days because I know how much obligation and mind thinking when having debt .

Only those who earn 1000$ per month can stay debt free. And does everyone get paid like this? Every product in the market is priced out of reach. A middle class or a poor family will never be able to survive without debt unless they have a good source of income because they have a family they have to support themselves by any means necessary. A person's being debt free depends entirely on his source of income.

depending mate,  because even if you are earning million dollars a month yet their expenses is above that then you will still be in debt.
sometimes it is not about how much you earn but how  much you spend.

[peter0425]

i must accept that I am the person that will not live without Debt or crediting but that does not mean it  is permanently

maybe after my children graduated from college? then i will end up borrowing money.

[franky1]

best way to get out of debt is to not get into debt

think about a reasonable amount that would cover a surprise bill..
EG imagine your electric bill doubled next month due to family using devices too much..
but instead of waiting for a bill and reacting. pretend it already arrived
put money aside as if you are paying off an excessive bill

save it

many people get into trouble because when surprise bills occur they didnt save for. they then cut back to pay it off. and once paid off they go on a slurdge and over spend on themselves to make themselves feel better and make up for the losses.

however if people save something. and build on savings they wont need to rely on friends/credit cards less

smart people would see something they dont NEED but just want. and instead of buying it. would put the value+5% into a savings account. because if they made the decision they think they can afford to buy it and repay a credit card+interest. then they can afford to live without it and utilise that amount into savings

if you are tonight tempted to uber-eats a $20 pizza and give delivery guy a 15% tip in 30 minutes. stop yourself. instead open your bank account app and put $23 aside into a savings account and then spend 15 minutes in your kitchen to make yourself something to eat. its both cheaper and faster then the pizza

these little $23 amounts soon add up, to cover real emergency bills to then not need to touch your credit card
do it with a few things you dont need which wont even last more then a bowel movement if you did have it.

budget your groceries.
do you need the top brand $5 ketchup or the $2 unbranded ketchup
do you need the 6pack of 2-3ltr pepsi or can you find alternative flavoured water

[Jinx9975]

The biggest advantage of being debt-free is the financial freedom and flexibility it provides. Without required monthly debt payments, you can redirect cash flow towards important priorities - be it saving more, investing for the future, or spending on needs that enhance quality of life.

Eliminating debt, especially high-interest credit cards or loans, also minimizes money wasted on interest charges each month. Those extra dollars saved can really add up. Additionally, not relying on borrowed money can prevent you from living beyond your means. It forces a healthier financial discipline around spending habits.

[jrrsparkles]

The biggest advantage of being debt-free is the financial freedom and flexibility it provides. Without required monthly debt payments, you can redirect cash flow towards important priorities - be it saving more, investing for the future, or spending on needs that enhance quality of life.

Eliminating debt, especially high-interest credit cards or loans, also minimizes money wasted on interest charges each month. Those extra dollars saved can really add up. Additionally, not relying on borrowed money can prevent you from living beyond your means. It forces a healthier financial discipline around spending habits.

It is easier when there is a cash flow but OP seems talking about taking debt to meet the cashflow due to lack of business/not enough salary in that case finding better ways to make more money is the solution. Try to avoid any unnecessary expenses until you get the privilege to spend on it which requires discipline as you said and also everyone in the family needs to be aware of the condition to move it forward.

[boyptc]

It is easier when there is a cash flow but OP seems talking about taking debt to meet the cashflow due to lack of business/not enough salary in that case finding better ways to make more money is the solution.

Someone can't move better if there's a debt remaining. People will justify having a good debt but IMO, still, that won't be a good thing unless you're able to cover that with your various sources of income.

Try to avoid any unnecessary expenses until you get the privilege to spend on it which requires discipline as you said and also everyone in the family needs to be aware of the condition to move it forward.

Delayed gratification is one attitude and approach that will help someone to have a debt free life. Have a control at most times and always distinguish and think many times whether you need that something you want to buy, again, think many times.

[jrrsparkles]

Try to avoid any unnecessary expenses until you get the privilege to spend on it which requires discipline as you said and also everyone in the family needs to be aware of the condition to move it forward.

Delayed gratification is one attitude and approach that will help someone to have a debt free life. Have a control at most times and always distinguish and think many times whether you need that something you want to buy, again, think many times.

Delayed gratification is not even a thing anymore because the new generation of people wants everything instantly and now the options of taking loans also became easier and there is a dilemma that they need to carry such standards to be considered as living which is nothing but the illusion created by the influence of social media.

[boyptc]

Try to avoid any unnecessary expenses until you get the privilege to spend on it which requires discipline as you said and also everyone in the family needs to be aware of the condition to move it forward.

Delayed gratification is one attitude and approach that will help someone to have a debt free life. Have a control at most times and always distinguish and think many times whether you need that something you want to buy, again, think many times.

Delayed gratification is not even a thing anymore because the new generation of people wants everything instantly and now the options of taking loans also became easier and there is a dilemma that they need to carry such standards to be considered as living which is nothing but the illusion created by the influence of social media.

It is still a thing but these new generation will learn it badly soon  after going through about that mindset of having things instantly.

Do not worry if it is not a thing to most of these people. They will learn their lessons the hard way and they will then remember it because they want to change for the better.

Delayed gratification has worked for the most who has done it.