Debt is Dumb: Why We Are Getting Rid Of It, And Why You Should Too

When people find out we are working towards getting out of debt we generally get one of two reactions:

The first group of people think it’s really neat, but then explain to us the 5,975 ways they would never be able to do it.

The second group of people just blatantly tell us how ridiculous that is, car notes are just a way of life-you know?

Of course there is a small group of people who cheer us on; who have gotten out of debt already, or are currently on this journey as well. Those people are the ones that keep me encouraged and going as we begin what I know is going to be a hard time. “Living like no one else,” Dave Ramsey calls it, “so that later you can live and give like no one else”

By far the question we get asked the most frequently is simply, why? Why get out of debt? Why say no to everything? Why live on such a tight budget for so long just to say you’re debt free? I’ve thought long and hard about the answer to the infamous ‘why’; and have come up with not one, but several reasons. Reasons why we are getting out of debt, and why you should too.

I want to build experiences for my children without the burden of debt on our shoulders. I want them to tour Europe, to see the Northern Lights, to surf in Australia. I have so many dreams that I want my children to experience, and I want to experience with them. These things are expensive in and of themselves, but they are unimaginable when you have the burden of debt on your shoulders.

I want to be able to give. I want to sponsor a refugee child, to pay an entire months bills for my church without batting an eye. I want to set up a foundation to help families like ours get to Colorado to access medical cannabis for their loved ones. These are just a few, there are so many ways I want to give back to this world. But I can’t do that when I feel like the money I’m making isn’t really mine yet, it belongs to all the people and business’ I have borrowed from. I have to pay them back before I feel comfortable calling my money my own, and then giving it away to people who need it more.

I want to retire. I want to retire, and I want to retire comfortably. I don’t want my husband and I to have to work until the day we die (unless we are doing something we love, then we might want to keep working). I don’t want to rely on the government’s meager social security pay out to live on, or worry that I will have to go in a Medicaid funded nursing home when it’s needed. I want us to be able to live comfortably, on our own money, until the day we die. Without being a burden on our children, the government, or our community.

I want to leave a legacy for my children. I mean this in two ways. I, of course, want to leave a financial legacy for my children. To help them buy their first house, send their children to college, or just have money sitting in the bank. But I also want to teach them financial responsibility. I want them to know how to say no to things they cannot afford, to know the importance of telling every dollar where to go before you spend a penny, and to never fall into debt themselves. Money is a big responsibility, and I feel it is our place to teach our children how to handle it.

So there you have it, my reasons for getting out of debt. And for the record, yes when we say debt free we mean no car payment, no mortgage, no student loans. No money owed to anyone but ourselves.

The road ahead is both daunting and exciting. But we’re ready, are you?

14 comments on “Debt is Dumb: Why We Are Getting Rid Of It, And Why You Should Too

  1. Thank you for this! My partner and I are currently working to reduce our debt so that we too can live debt free. This is so that we can afford to farm and do what we love. Thanks for sharing!!!

    1. I want a farm so bad, but my husband keeps nixing the idea. Some day I will have an ‘urban homestead’ though, I’m determined!

  2. First step in getting out of debt for us was paying off my car (early)! Now we’re taking that payment and applying it to our credit card until we pay that off. After that we’ll probably either put that money in savings or make extra payments on our house when we can.

  3. Debt is inevitable unless of course you’re rich. In order to get most things in this life a loan is required. A house, car etc. But I also like the idea of wanting to make sure my future kids are well taken care of. Not necessarily an estate but money for college, a house. I also want them to learn the true meaning of learning to do without.

    1. While I understand that this is the mindset of most of America, I respectfully disagree. We are not rich by any standards at all, and we saved to pay cash for a car. Is it brand new? No, but it’s nice, it runs, and will continue running for several more years. Buying a house is a little trickier, and I am not against a mortgage, but it’s also not unheard of for people to rent and save until they have enough cash to buy a home (however modest it is).

  4. Those reason you state are so true. I believe that debt is something you should work to pay back since it makes so much sense in the long term. I think you shouldn’t listen to all the naysayers out there and just keep working the way you do. I’ve recently started working and while I don’t have a debt right now, I can imagine its all to easy to get caught up in it with the fancy schemes and bank loans out there. Big cheers to you to power through and dream big!

  5. I can’t imagine why anyone would want to live in debt. It suck! I definitely am working on paying off my debt so that I can eventually buy a home. I took the Dave Ramsey class a few years ago and I need to pull out my material to brush up on it.

  6. We are Dave Ramsey fans! I always thought it was interesting the scripture before Proverbs 22:7. I think this truly shows us the responsibility of teaching our children about everything including financial responsibility. My daughter works at a University and she is amazed at the number of students who don’t even know how to write a check. Many can’t even count change back to you. It is an issue which needs to be dealt with and taught beginning at an early age. I believe that debt goes along with entitlement mentality. People think they should be entitled to have everything and anything they want because they deserve it. I know of too many people who have declared bankruptcy to start right over again because the consequences didn’t even phase them. I’ve seen with adult children those who believe they should have what their parents have not recognizing the parents worked for many years to have those things. Instant gratification is the drug of choice. Debt is a disease which kills many marriages, destroys lives and steals joy. It is like a noose around your neck. Congratulations to your choices. God will honor you in ways you can’t imagine. I’m adding you to my prayer journal for financial freedom!

    6Direct your children onto the right path,

    and when they are older, they will not leave it.

    7Just as the rich rule the poor,

    so the borrower is servant to the lender.

  7. I completely agree. Unfortunately, we’ve had circumstance that have put us in some debt but we are doing the best we can. Even with savings it sometimes can’t be avoid but we are following Dave Ramsey right now and loving it.

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