HOW TO LIVE A DEBT FREE LIFE
3 min readMar 22, 2022
We all need financial wisdom, especially at this time in the history of our country. You don't want to be caught up in debt.
I have heard of people who lives pay-check to pay-check and others, from one debt to another debt. That's bad!
Have you ever been in debt or you are currently in that battle for a debt-free life? Read this post to the end. I will teach you how to live above debt.
In this my little life. I have experienced debt of over 500k when I did not even have 10k income monthly.
How I got there is an epistle for another day.
But how did I get off that life and now living in freedom?
Firstly, I Stopped Taking More Debt.
If you aim to be debt-free, it's only logical to know you have to stop taking debt.
That was my first turnaround. When I shut down my mind from taking more debt, I began to become creative at dealing with my paybacks. So that gave me the room to think.
You have to think!
Understand that staying off debt means staying off things that will put you in debt. The most predominant is loan. Don't patronize loan apps.
Then, I Shun Materialism
What is materialism? it's that spirit that keeps wanting you to get stuff - a new car, shoes, clothes, groceries etcetera.
I learned contentment. A friend always tells me "Paul, eat your shame". I am also telling you to eat your shame.
I wore what I had, my budget was planned, while I stayed focused on how to build my earning streams.
Then, I Learned Money Management Skill
Most often than none, people who are locked up in debt lack money management skills.
Knowing how to prioritise your spending and manage your money is an important life skill.
I recorded and tracked my daily spending. I would have an accountability partner who understood my objectives and she would ensure am always on track. She would set a weekly spending limit and that helped me.
I Looked for a Job
Yes, I didn't say full-time employment. I said a "job" because I didn't owe a certificate then. So I had to stay humble and do some menial jobs. I hustled on some farms, just to earn some money. (this was my journey to launching into agribusiness).
But if you have a certificate, then that's good for you. You should get a proper job doing.
I Started Saving
As much as I worked, I started saving more to repay my debt. Why? because until you pay off your debt you can't be debt-free. So saving is one way I used as my payback plan until I finally repay the loan.
Finally, I Made a Vow
You see there is no easy way to this debt-free issue. Sometimes, it's psychological. It has become a habit. The only known way is to be disciplined. For me, I stayed disciplined whenever I remembered my vow. My experiences scared off anything that would put me in personal debt too.
Alright, now you have it. Go and live debt-free.
Have you found meaning in this article? Let me know.
Paul Hunyingan
Agribusiness |Workforce Manager
