Debt Elimination

ELIMINATE AND AVOID DEBT

One of the most important things you can do in your journey to reach financial independence is to eliminate and avoid debt.

ELIMINATE DEBT

If you're like nearly every other American (and Canadian), then you're in debt - and that means that a portion of every single dollar you earn belongs to someone else. The more debt you have, the more your money belongs to someone else.

So you go to work to earn money to pay back your debts - it's a vicious cycle and you end up getting worked to death.

Forget that! Pick a debt elimination strategy, even if it's a different kind of plan, and eliminate your debt ASAP.

AVOID DEBT

Once you've eliminated your debt you should avoid debt like the plague. Debt is the great killer of wealth. Think for just one second how great life would be if you could just keep the money you make?!

Cash would start to pile up faster than you realize! In fact, when you get to keep the money you make it's possible to thrive on a single income (even if you're in an expensive city).

In your quest to reach FIRE it is vital that you eliminate and avoid debt! So click through some of the posts and articles below to find more useful information that can help you eliminate and avoid debt!

The Basics Steps I Used to Reach Financial Freedom

By Inna Rosputnia Leave a Comment

They say money doesn’t make you happy, but I can’t fully agree. Who doesn’t want to reach financial freedom? I love money, and I believe it’s normal. We all work to earn. How else can you achieve financial freedom? However, money is not a goal; its an instrument to make your dreams come true, to live a fulfilled life, travel, be able to pay kids education and finally retire.

Money is simply a necessity like food or water, it helps you buy the things you need.

5 Simple Tips to Fix Your Finances

By Lucas H. Parker Leave a Comment

If you’re like most people, financial independence is your ultimate financial goal. The road to a financially care-free lifestyle requires planning and dedication and even a bit of luck. But you may need to fix your finances today, before you can plan for a financially secure tomorrow.

5 Outdated Financial Rules that Need to be Broken

By Ty Roberts 1 Comment

These outdated financial rules were created by previous generations, but no longer hold true in today’s world.If you’re interested in achieving financial independence and early retirement then you need to consider breaking these 5 outdated financial rules.

From Overburdened with Debt to Debt Free Within 3 Years

By Good Nelly 1 Comment

This Contributor article was written by Good Nelly

Today, I am going to share with you a story from our financial journey. It’s about our debt payoff journey and how we overcome financial struggles that shaped the financial life we have today.

If you think that our financial lives were a smooth ride, you’re wrong. In spite of being a personal financial adviser now, once we struggled to repay debt.

This is our story.

How 14 Months of Extended Unemployment Lead to Financial Independence

By Ty Roberts 12 Comments

Mike Tyson once said “everyone has a plan till they get punched in the face.” The opposite was true for me. It took a solid punch to the face for me to wake up and realize that I needed a plan. This is the story of how my 14 months of extended unemployment led me down a path to financial independence and early retirement.