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Wise Tricks For A Debt-Free Life

One of the main questions in life is that, ‘why do you spend the money you don’t have yet?’ Which actually makes a huge sense, especially for people who has numerous numbers of debts. Debts are actually considered to be one of the results of bad spending habits, because when you don’t use cash, it’s literally costing you money to spend money, which doesn’t make sense at all, but that’s just how it is. Just like how credit cards are considered to be a person allowing you to borrow money to get something you can’t really afford at the moment, but can easily pay off in the future.

It always seems so easy and convenient, but what exactly happens is that you are owing more and owning less, and this could last for years, some people grow old and dies without managing to pay for their debts because there is just too much of it, you wouldn’t want to spend the rest of your life earning money just so you could pay off your debt right? So here are wise tricks to become debt-free.

“The national debt is totally unlike a family budget for about a gazillion reason, not the least of which being that families cannot raise money by fiat or deflate the size of their debt, unilaterally and that family members die instead of existing infinitelyMatt Taibbi


Patience and hard work is the key to paying all of your debt. If you know that you got debts and other loans to pay, then don’t start a new one, it’s just like trying to pay your debt with another debt, which would just lead to you being broke as early as now, you must sit down and check every single loan and debt you have, and figure out a way to pay for them. A nice tip though, pay off the biggest one, then go from there.

Credit Card

This has got to be one of the major reasons why people simply couldn’t help but be on debt. Almost every working adult in the world has at least two credit cards on their wallets. Little did they know that credit cards are actually the most expensive form of debt in the world. The average rate for fixed debt is 15 percent, but there are unsecured credit cards that have higher interests, so before you actually get a credit card, be sure to know all about it, but it will best, if you don’t use one at all.

Student Loans

There are people who struggles to pay for their student loans, especially if it is a private student loan, because it is more costly compared to a federal loan. However, these have strict rules of payment and is unsecured.

Auto Loans

Now this is something that is obviously really high. The average auto loan is 6 percent, and that is for a fixed-rate loan when you buy from a dealer. The only good thing about this is that, auto loans are of co it’s secured.


Now that you have managed to get through all of your loans and debts, just work hard to be able to pay for them. It might take some time but it will all be over. Once you are debt-free, make sure to stay like that and one of the first things you have to do, is to stop using credit cards. It wouldn’t be possible for you to be debt-free if you keep on using those credit cards.

“The problem is indeed that one party’s debt find its counterpart in some other party’s savings. Not paying debts therefore involves annulling some other party’s financial claims on debtor.” Michael Hudson


Credit cards are often use especially when people tend to buy unnecessary stuff, and of course on impulse buying. When someone uses a credit card for shopping, it’s like everything is worth it, but when your bill comes, you feel like you’re carrying the world on your shoulders. If you don’t use credit cards and you use cash instead, it will be difficult for you to let go of that cash when you go shopping for unnecessary items. It is ideally more difficult to let go of cash since it is real money, and not just a card to swipe.

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