55 Compelling Reasons to Get Out of Debt

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When it comes to money and debt there are essentially only four groups of people

  1. Those who are debt free (like me).  Love it. Endorse it. And Preach it.  They can afford a family vacation and do cool stuff like vacation with cash and buy cars with cash.
  2. Those who have debt, leverage debt, and feel sorry for people who aren’t smart enough to use debt.
  3. Those who have debt, hate it, and are working like crazy to get out of debt one step at a time.  They are going to stop making bad money choices.
  4. Those who have debt, hate it, and are so overwhelmed they are not doing anything about their debt problem.  They are so upside down in debt that they don’t really believe you can get out of debt.  They think that getting out of debt is going to be too hard.  Some have even been in debt for so long you can’t even imagine life without debt.  But still they want to taste the debt free life.

This post is written to motivate those in debt, to get motivated to take control of their finances.

55 Fantastic Reasons Start Getting Out of Debt Today

  1. You get to keep every dollar you make.
  2. You’ll save money in monthly interest payments.
  3. You won’t need to be afraid to pick up the phone.
  4. You’ll feel less guilt or worried about giving than you did when you were in giving in debt.
  5. You can be obligated to your call, you passion, and your God – not your creditor.
  6. You sleep better at night.
  7. You have a chance to become an accidental millionaire.
  8. You’ll feel more confident.
  9. Can do something you’ve always wanted to do.
  10. Go on a nice vacation.
  11. You can give more.
  12. Move along to other important components of a healthy financial plan.
  13. You get to own your stuff.
  14. Life involves less risk.
  15. Fewer money fights with your spouse.
  16. Feel confident that you actually can be an example to your kids.
  17. Have money to leave an inheritance for you children.
  18. You can walk into a mall without breaking into a cold sweat.
  19. You believe in yourself so you accomplish other life goals.
  20. Satisfaction of accomplishing such huge goal.
  21. “I’m debt free” just has such a nice ring to it.
  22. The car will drive smoother, the education will be more appreciated, and the grass feels softer (Dave Ramsey).
  23. You can be prepared for unexpected emergencies.
  24. You have some negotiating advantages with cash.
  25. You actually get to enjoy a positive net worth.
  26. You’ll be in a position to capitalize on economic weakness.
  27. As the symptoms to debt are addressed you’ll feel more whole.
  28. You’ll have a sense of financial vision and focus with the distinct feeling you can actually accomplish those goals.
  29. You won’t be afraid to leave a tip or give a nice gift.
  30. You won’t have to approach a family member every again to ask for money.
  31. You’ll never put a friendship on the line by borrowing money.
  32. You can escape the embarrassment of fumbling with multiple credit cards praying one will be approved.
  33. You get money in the banks so you have less overdrafts.
  34. You’re newfound financial organization will influence other areas in life that need some structure and organization.
  35. You’ll never have to defend your debt as good debt.  You can just sit quietly and let everyone argue about it as you sit satisfied knowing that there is no such thing as good debt.
  36. Accounting errors where paychecks are delayed are small inconveniences not a new life crisis.
  37. You’ll never have to peak out the window in the morning just to be sure that you car was not towed away.
  38. You won’t need to put bills in a box and just hope they magically disappear
  39. You won’t need a loan for Halloween candies next year.
  40. You won’t have to obsess about FICO scores
  41. You won’t need to vigorously track every single credit card trying to find the next 0% balance transfer.
  42. You get to play offence for a little bit, not just defense.
  43. You’ll no longer be concerned with minimum payments.  Payment in full – that’s the only number you care about.
  44. You won’t have to keep giving excuses for why getting out of debt is too hard or such a dumb idea.
  45. You get to learn a lot of important principles about money that will help you handle the money when it comes.
  46. You’ll convince yourself that you’re no longer entitled to anything – you earn everything you have.
  47. You’ll get to read the menu from left to right, not right to left.
  48. You won’t be concerned about violating your conscience to do something just to make the money necessary to get out of debt.
  49. You get to be more engaged in lives of people and less distracted by your mountain of debt.
  50. You won’t be waiting for the next financial windfall or lottery to solve all your problems.
  51. The opportunity to establish financial margin that will give you some financial breathing room.
  52. There is an possibility of increased return from investments.
  53. Being out of debt provides an environment where you can dream and consider alternative employment
  54. You’ll learn how to set and accomplish goals
  55. You’ll never have to take the time to read a long post on debt again.  You can just look and say – already debt free.

Photo by zoutedrop.

What did I miss?  Any debt lovers out there?


    • Craig says

      My brain keeps moving so I can provide the be quality content for my readers. I don’t think they want someone with a slow brain :)
      “freedom to purse dreams” – Amen.

  1. Tim Striebeck says


    Would you grant me permission to translate this article into Spanish? I’m leading a discussion about Debt and Borrowing with our men’s group. I live in Costa Rica and attend a Spanish Baptist Church. The other men do not speak English.

    Tim S.

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