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 [...]

The other day, a friend and I were having a general conversation about personal finance. My friend began by complaining about some debt he has and then he mentioned how he had no idea what he had in his checking account and how he kept getting hit with overdraft fees. He kept railing at the [...]

Many people cut corners on insurance in an effort to save money. They don’t buy policies that they should have, or they are underinsured on the policies they do have. They think that paying a smaller premium is a way to save money and do better financially. Technically, this is a way to save money. [...]

People often ask me some version of the following question: “Where did you get this idea that you should live a debt free life? How did you, in a world where credit cards are ubiquitous and debt is the norm, decide that you were going to go against the norm?” People are curious about my [...]

The dictionary defines obligation as, “To bind or compel someone.” It just sounds unpleasant, doesn’t it? Who wants to be bound and compelled to do things? Isn’t it much nicer to be free to choose your own path? I’ve always thought so. I try to shun obligations whenever possible, beyond the obligations I have to [...]

The other day I was feeling punished for my good financial habits. My savings are earning pitiful interest, thanks to the low rates in place to prop up the economy. There are no mortgage or housing breaks for me, since I don’t carry a mortgage. My credit cards have had their limits cut and interest [...]

It takes my neighbor hours to pay all her bills while being debt free keeps me from that onerous chore, saving me valuable time. The same neighbor taught me about another time saving aspect of being debt free. This neighbor requested her free credit report from AnnualCreditReport. I had mentioned it to her some time [...]

One of my friends became debt free about year ago. We were at lunch talking about how good it feels to be debt free, especially in the middle of a recession, when she uttered this gem: “It’s so great. I can pay all my bills and still have lots left over for fun stuff.”
I asked [...]