What if true fulfillment lies not in the things we own, but in the freedom we can buy with the money we have?
Being comfortable with debt can be a positive attribute when you manage it responsibly. Today's post is meant to act as a mirror for you - to see if you are TOO comfortable with debt and not managing it effectively.
I knew our finances were a house of cards even though we were able to make all the monthly payments. However, if one or both of us were to be laid off and lose our normal, steady income, we were toast! As a Gen-Xer, we are naturally resourceful and practical - so I thought, "we've got to fix this mess"!
Spending on anything outside of needs is often viewed as non-essential but spending on experiences while on your journey to financial independence serves several important purposes and can contribute to overall well-being in various ways.
As we get older, a high personal savings rate becomes increasingly important, dare I say, more important than compound interest?
Understanding financial concepts such as interest rates, credit scores, and loans can help you avoid excessive debt and make wise financial decisions.
Your budget is a strategic financial plan that powers your life.
Copyright ©2024 Enjoying the Journey
The information given is for entertainment purposes only, not financial advice. Personalized guidance from a financial adviser is recommended for making well-informed decisions. All Rights Reserved.