Step1
Step2
Step3
Step4
Step5
Step6
Step7
Step8
Step9
Step10
Step11
Step12
Step13
Step14
Step15
Step16
Step17
Step18
Step19
Step20
Step21
Step22
Step23
Step24
Step25
Step26
Step27
Step28
Step29
Step30

Financial Literacy Month blog

We hope you enjoy reading some of our thoughts as we join you on the path to financial wellness and we encourage you to yours. If you would like to follow our path on a more micro-level, we will be using twitter to chronicle our days.

Click here for Money Management Blogs

 

 

 

 

Is “Debt Free” a realistic goal?

Posted by Kim McGrigg on 4/9/2008

Years ago, I worked for a woman whose goal in life was to “owe no man no dollar.” At the time, I wondered how a crazy person landed such a good job. Today, I find myself wondering what life would be like without debt.

In my lifetime, I have had much-needed student loan debts, medical debts, and mortgage debts. I can say with certainty that without taking on debt, I would not have my job or my home.

On the flip side, I have also had not-so-needed personal loan debts, credit card debts, and auto debts. Debts taken on with more emotion than thought have cost me thousands of dollars.

I guess you could say that I’m conflicted about debt.

What I am sure about is that too much debt can be devastating. Debt has the potential to ruin families, careers, and esteems. The impacts of excessive debt are well outlined in Steve Bucci’s Bankrate article titled 8 reasons to manage debt in '08.

The next few steps involve setting goals. After thinking a lot about Step 9, I will definitely put “pay down debt” on the list. Will “become debt free” make the cut?

0 comments on this post.
Add your own.