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Living in debt is convenient as it gives you possibilities and gratification right here and now, but it amazes me that so few people understand what the opposite – debt free living – gives you in terms of opportunities.
Let’s consider how debt makes its way in our personal lives first:
Everyone is so used to borrowing money – first for college, then for a car, then for a condo or a house, and finally that credit card debt to fund the lifestyle (they think) they deserve. You NEED an iPhone, you NEED a 50” TV, you NEED to eat out 3 times a week and you NEED to go skiing every winter.
Have you ever considered what this choice of debt does to your life and your freedom to choose?
What if you wake up one day and realize that your current job is getting to you? That you actually don’t enjoy what you’re doing. That your boss doesn’t support you and your career is going nowhere. That you loooooong for the weekend and have moved way beyond TGIF and have started calling Thursdays “Little Friday”.
Well, it’s quite clear that you should quit. That you should be doing something better with your life. That you should find another job that motivates you and satisfies your ambitions. The only thing is – you stay put…
You stay in your job because you have to pay the bills. You cannot afford to take the more interesting job that pays significantly less. It’s then that you realize, that you are caught in a debt trap that now keeps you in a place you don’t want to be because you have lost your degree of freedom. You lost your freedom to choose.
Do you think business is any different?
Do you think it’s easier to make “the right choice” in business if you are always forced to take the route that brings in the most revenue and profit? And what if you just “know” what the next new thing in your field is going to be but you cannot pursue it because you are busy making the next payment to the bank and you do not have the option to fund this new idea?
Living and operating debt free gives you a huge amount of freedom that should not be neglected. Only then can you truly decide what you want to do. Decide where you want to work. Decide if you want to work on your own. Decide whom you want to work with…
Ditch your Debt. Decide your Destiny!
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This article was contributed by Steen Andersen, President of Maconomy Inc. Maconomy creates Organic Business Solutions for Professional Services Organizations in a way which ensures human as well as financial gain.
You can follow Steen on twitter at @MoellerAndersen