While we already know that living in debt isn't very much fun, we tend to get caught up in everyday life and forget about the debts that we owe. Sometimes, we even ignore the creditors calls and tear up the bills that arrive in the mail. While this may temporarily make you feel better for a short time, it’s something that won’t last. It will weigh heavy in the back of your mind, and make the other aspects of your life a lot less enjoyable with the debts hanging over your head.
Debt just ends up causing you unwanted stress, lack of sleep, and even in the long run, health problems like anxiety and depression. You run the risk of losing your quality of life, lacking happiness where it truly counts, on the inside. If you have children, your debt can also affect their future as well as yours. If you let all of your debts just ride for years and years, how will you be able to send them to college? Not only that, children always learn from their parents, and you could also be setting a poor example of money management skills that they will pick up on.
We all know how debt can affect our futures. If you ever want to make any major financial purchase again, having all that debt sitting on your credit accounts will not do any good or be of any help to you in making a purchase. Your potential lenders will take one look at those numbers and deny you on the spot.
Living in debt does not have to be a way of life for you any longer! Once you decide that you are ready to be free, and you adopt the attitude of “I can do this”, then you are well on your way to financial freedom and stability!
Just think how much freer that you will feel when you get rid of all that debt!