What Does Being Debt-Free Mean To You?

Have you ever had one of those nights where you could not fall asleep? You are tossing and turning and trying to count sheep but sleep still does not find you. What are some of those things that help your mind rest? For me, I think about what my life would look like if I were completely debt-free.

Debt Free

We are on the right path and just have the mortgage left before we can join the Debt-Free club. I enjoy listening to Dave Ramsey and, every Friday, he has callers come on the air and scream “We’re Debt Free!” After this, he plays the line from the movie Braveheart in which William Wallace screams Freedom. I think this perfectly sums up why we should seek to become debt-free – to be free.

I know some people look at wealth as being able to drive a Mercedes, live in a large house or take exotic vacations. To me, the definition of wealth is being able to have the freedom to do whatever you want. I am not just talking about buying things (although being debt-free can help you pay for that Mercedes or vacation with cash instead of plastic) but rather focusing on actions that you will be able to take.

Let’s say you don’t really like your job and want to do something more rewarding. The only thing holding you back is this more-rewarding job pays a lot less. Well, if you get to the point where you don’t owe anyone a single cent, you will be able to take a cut in pay in order to have a more fulfilling job. This creates a domino effect in the other areas of your life. If you are content with the way you spend most of your waking hours, you will usually find that your day, as a whole, is much more enjoyable.

For me, becoming completely debt-free would mean that I could focus more on what I am passionate about – helping people manage their money better. I do enjoy being a school teacher and know the skills I use teaching children easily transfer over when I teach adults how to manage their finances. I am blessed that I do feel that I am living out God’s purposes for me in that I get to teach but would definitely love to be able to spend more time helping others with their money.

That is what I think of when I can’t fall asleep – how, when that day comes in which I am completely debt-free, I will be able to focus more on helping others with money. Since I won’t have many bills, I will not need to have as large of a paycheck coming in to pay for my expenses. I know some focus on what they could buy rather than do but I feel having the freedom to pursue my passions will lead to much greater satisfaction than any materialistic item will provide.

How about you – what would your life look like if you were debt-free?

About Danny Kofke

Danny Kofke is currently a special education teacher and author of “How To Survive (and perhaps thrive) On A Teacher’s Salary.” His frugality has enabled him to pursue a job he is passionate about and, at the same time, support a family of four on his salary alone.

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  • mike

    Our path is very similar. I made many fast moves when I was a tad younger and used debt as the leverage that so many other financial gurus embraced. We don’t have kids but want to be flexible in being able to make any changes, additions, subtractions, or whatever(jobs, location, etc.) whenever we choose. It’s comforting to know that the Dave Ramsey plan never changed through the credit bust. One thing to note, however, is that his show doesn’t use Fridays as the official debt free day. It was changed some time ago. Now its daily but only once an hour.
    I dream of giving more and teaching a full spectrum of finance.

  • http://www.WellKeptWallet.com/ Deacon

    We are planning on becoming completely debt free in the next 5 years. It will give us more freedom and flexibility, that is for sure. We will have a couple thousand dollars a month to do whatever we want with. We are planning to travel more, give more, and do things that we feel called to do. Can’t wait to be debt-free!

  • K.K. @ Living Debt Free Rocks!

    We’ll be debt free in a few days from now. We currently don’t have a mortgage at the moment but we are planning to save up as much as possible for a huge downpayment and then pay off the mortgage in record time. Being able to have more control over how you want your life to be lived because you’re not forced to work at your job solely to pay debt is key for me.

  • http://www.onemoneydesign.com/ Jason Price

    I too am looking forward to the freedom associated with being debt free which includes the mortgage. Our goal is to be in a situation to give more of our time and money to help others.

  • Mandy @ MoneyMasterMom

    Surviving and thriving on a teachers salary. Great job, especially considering you have a family. Good luck with your goals, it’ll happen in God’s time I’m sure.