Is Debt-Free The New Rich?

If you ask the average person what the definition of “rich” is they would probably tell you that it is money that is not owed. This definition might be true, but if that person were to define the word “wealth” most people would probably tell you that they don’t want their money owed to them.

Well, it appears that the definition of “wealth” just may be different than what the average person thinks. Because the debt-free is the new rich for many of us. Here are a couple of reasons why debt-free is the new rich…

The reason debt-free is the new rich is there is a lot more money out there to invest in ourselves and our families. Now, this does not mean that we should go and get a second mortgage on our home. Or, perhaps go out and buy a brand new semi-truck with a huge motor off of eBay.

What this does mean is that we can change the way we think about wealth. Get rid of the guilt that we have in having any debt at all. When you are debt-free you are not thinking about having any more money. Instead, you are just focusing on what you have now.

The best way to become debt-free is to get on a discipline program. This will require that you sit down and write out your debts. See exactly how much money you owe to each person. Once you see your debt total you can then take the necessary steps to get rid of it. This means that you can stop spending money and put that money into paying off your debts.

In fact, most people that start a debt relief program are amazed by the amount of money they actually end up saving. Therefore, if you have some extra money that you don’t need anymore. You might want to consider putting some towards eliminating debt.