Ironic though it may seem, paying off your debt WILL in fact increase the amount of disposable income you have each month.
HOW you say?
Well, if you actually read your credit card or line of credit statements instead of shoving them in a drawer, you begin to realize how much cash you actually burn each month on interest charges alone. That’s money that DOESN’T go to paying off any of your debt… it’s money that goes straight into the bank’s pocket. Your penalty for borrowing money that you didn’t have.
Most people pay between $50 – $300a month in interest charges alone. If you were debt free, that money could go anywhere you wanted – a trip to Mexico, that pottery class you always wanted to take or that pair of shoes you can’t stop thinking about. The bonus? You feel gulit free for making those purchases for once because you paid for them free and clear… not on credit.
It’s definitely not easy to commit to a ‘paying off debt plan’ for a couple of years but the feeling of finally being AND living ‘in the black’ is really extraordinary. Let’s just say ‘freedom’ covers it.
So start right now and get on your way to guilt free shopping future. I’ll meet you there.