I knew it was bound to happen, but I’d been hoping that somehow I’d avoid it. Despite having excellent credit and no debt, we got a letter from one of our credit card companies dropping our limit from $10,000 to $300. This was done because of “inactivity” on our account, which really translates into the [...]

Over my years of debt free living I’ve learned that procrastination is a huge enemy to staying debt free. We all tend to say, “I can take care of that tomorrow,” and put off things we don’t want to (or can’t) deal with right then. The problem is, the longer you put things off, the [...]

The only debt we’ve ever incurred was to buy our house. At the time we bought, we just didn’t have a spare $150K lying around so we had to get a mortgage. We knew going in that we didn’t want to be stuck with it for thirty years so we set out to buy a [...]

The other day a friend asked me if I gave to any charities, or did I just save all my money in order to keep myself debt free. The questioner seemed to think that a debt free life automatically equates to a miserly life. There seemed to be a belief that one cannot be both [...]

One of the things I’ve learned living a debt free life is never to dismiss anything out of hand. Whenever I see a money saving tip, investment strategy, or other money management idea I don’t automatically pooh-pooh it as something I can’t do. I’m always willing to try something new — or at least [...]

If you’re debt free, chances are that you are one of the few in your family or circle of friends who is. In the circle of people I know well, only my parents and two close friends are debt free. I’ve met others but of the people I’m close to, I’m one of five debt [...]

A friend of mine who, like me, has always lived a debt free life recently ran into a perfect storm of disasters. He was diagnosed with an illness and, despite having good medical coverage, ended up with bills that threatened to eat up much of his non-retirement savings. As if that weren’t bad enough, he [...]

One of the things I’ve noticed about my debt free life is how much less distracted and stressed my mind seems to be than those with a lot of debt. I see many of my peers running around freaked out by bills, or chasing the latest “deal” on some doodad that they just have to [...]

I know that many people believe that you have to have debt in order to have a high credit score. Many people keep their debt just so they can keep their score up (so they can get more credit later). They fret every time a credit card is closed or the available limit is lowered. [...]

Debt free living has one important benefit that many people don’t consider at first. Sure, it makes bill paying easier and it lets you save for vacations and other fun things, but it also lets you save big sums for retirement. When all of your money goes to servicing debt, not only can you not [...]