Freedom from Debt: Things You Don't Know You Needed
This post may contain sponsored links. See Earnings Disclaimer.
Don't Miss This Free Download..
Get this amazing free report PDF and get the information you need to start achieving Financial Freedom. Plus you'll be added to our weekly newsletter, financial freedom tips, and other great resources.
Overview of Debt Free
Debt free means owing nothing to lenders, freeing up income for savings, investments, and true financial freedom.
What Debt Free Means:
- No longer owe money to lenders
- Full control over your income financial decisions
- Ability to build wealth with every available dollar
How to be Debt Free:
- Identify all lenders: Write down lender, minimum payment and amount
- Begin a debt snowball: Pay off lowest balance first, then next largest
- Add more money to snowball: Cut unnecessary expenses and increase savings
- Increase Income: Boost income through side hustles or career growth
- Reduce loan amounts: Negotiate lower interest rates and consolidate debt
- Build future fund: Build an emergency fund to avoid future debt
- Stay disciplined: Stick with your monthly budget and avoid new debt
Why I Believe Being Debt Free is Essential
If we have any form of debt that is costing us money, we need to pay it off as fast as possible. Why? It's money we already make! Paying it off gives us a guaranteed paycheck raise, which is not easy today. Not to mention, that if financial independance or financial freedom is our goal, then being debt free is the most important step to fulfill that journey.
My Recommendation
Getting out of debt is one of the hardest things to do. Get honest about the financial situation you're in. Then, focus on putting a debt snowball to work as fast as possible. Put every available dollar you find or make to add to the debt snowball. Most people can be debt free within 2-5 years of staying the course. Do it. Get debt free!!
The Debt Trap
Falling into debt isn’t just about poor choices. Life happens—unexpected bills, job loss, medical emergencies. The key to freedom from debt is understanding the triggers.
Are high-interest loans eating your income? Are credit cards filling financial gaps? Identifying these patterns is step one.
But here’s the kicker: Debt thrives in silence.
Facing it head-on empowers you.
What to do: List all debts, prioritize lowest balance ones FIRST. reate a snowball or avalanche repayment plan. Break the cycle by budgeting effectively and avoiding new debts.
Resources to Pay off Debt:
- Use a Debt Tracking App to consolidate and manage high-interest debt efficiently.
- Enroll in a Budgeting Course through platforms like Udemy to learn effective financial management.
- Get a Free Credit Counseling Session with Accredited Debt Relief to evaluate repayment strategies.
The Power of Mindset: Shift Your Thinking to Shift Your Finances
Freedom from debt starts in your mind before your wallet. Most people focus on numbers but ignore the emotional side of debt. Why do you spend on certain items? What's the "fix" for you?
Guilt, shame, and fear often keep us stuck. Shift your mindset: view debt as a challenge you’re capable of overcoming. View debt as your enemy, stealing your future every single day. This enemy is lurking in places you haven't even looked yet...
Visualize life debt-free: stress-free mornings, guilt-free spending, and financial confidence. If you were debt-free, what would you do?
Create affirmations, celebrate small wins, and surround yourself with support. Remember, it's not about deprivation; it's about reclaiming your freedom.
Resources to Pay off Debt:
- Read Motivational Books like "The Total Money Makeover" to inspire financial confidence.
- Join a Financial Support Community via Facebook Groups or dedicated coaching programs.
- Download a Mindset App for daily affirmations and mental conditioning.
Action Plan for Debt Freedom: Your 5-Step Blueprint
Let’s get tactical. Here's a simple, actionable plan:
Assess: List all debts on a spreadsheet. Student loans, car loans, credit cards, everything you owe someone else - no matter how small. You need: 1) debt total. 2) minimum monthly payment amount
Prioritize (debt snowball): Use the debt snowball method to pay off the first debt, then the 2nd debt, then 3rd, etc. First, pay off the smallest balance first. Then, take that debt minimum payment and add it to the minimum payment of the next smallest debt. Repeat until all debts are paid off.
Budget: Allocate extra funds or extra income from part-time jobs toward your current debt, while cutting unnecessary expenses to add more to debt payoff.
Negotiate: If possible, contact creditors for lower rates or settlements. This could reduce the total amount you owe.
Automate: Set up automatic payments to stay consistent.
Earning Extra Money Online
- Get paid to Review apps: Makes $25-50/ per hour
- Get : paid using Social Media: Makes $25-50/ per hour. Take 1 minute quiz.
- Get paid Writing Online: Make $25-35/ per hour working from home. No experience necessary.
Conclusion
Achieving freedom from debt isn’t just a dream—it’s a decision followed by action. You now have the tools to understand your debt, shift your mindset, and apply a proven action plan. But success doesn’t happen overnight. It requires consistent effort, smart strategies, and the right support systems.
Ready to take the next step?
Start by booking a free debt strategy call for personalized advice tailored to your situation. Need accountability? Join our debt-free coaching program and gain expert guidance every step of the way.
Or, if you’re looking for immediate relief, explore our recommended debt relief program to fast-track your journey.
Your financial freedom starts today—all you have to do is take the first step.
What's Next?
Continue Your Financial Freedom Journey
- Take the next step. Read our post.
- First time here? Take 1st step.
- Need Financial Coaching Consultation?
- Need Financial Coach? We can help.
Take the next step toward this brighter future today.
Our Trusted Partners
Frequently Asked Questions about Financial Freedom
Financial freedom is the ability to cover all your expenses and achieve your financial goals, without relying on employment income.
Achieving financial freedom involves:
1) eliminating debt
2) managing money wisely
3) saving at least 1 year's worth of expenses
4) Creating multiple income streams to replace your current employment and support your desired lifestyle.
Yes, financial freedom is achievable with proper financial planning, discipline, and persistence. We offer financial freedom coaching to help clients with guidance, accountability, and support to achieve this.
Steps include:
1) assess debt & debt elimination strategy (debt snowball recommended).
2) creating a cash flow plan to manage and track monthly expenses.
3) identify yearly income needed to support financial freedom.
4) assess and increase current income to support financial freedom.
5) start and build emergency savings to 1 year of expenses.
6) Optional: additional savings accounts
7) Optional: invest wisely and consistently, from early age as possible.
The time varies based on individual circumstances, focus, and committment. However, chances greatly increase with financial freedom coaching, and consistent effort.
Benefits include: reduced stress, greater flexibility in life choices, and the ability to pursue passions without financial constraints. In other words, everything you always wanted, but couldn't do.
1) Start by listing and tracking expenses
2) Save $1,000 in an emergency account right away
3) Start paying off smallest debt first. Set a goal date to finish debt.
4) Add a passive income stream to your income.
This will be different for everyone. However, to find this, we recommend following our PATH TO FINANCIAL FREEDOM to determine this.
Financial freedom is more about being cash flow positive, managing expenses from day-to-day, and having passive income streams to cover all yearly expenses.
For most debt free individuals and families, depending on how reasonably lavish their lifestyle, a minimum yearly income needed to support financial independance might be anywhere from $175,000 to $250,000 per year. This does not include the cost of college education or buying a home cash. However, it should include purchasing a resonably priced car in cash.
Common obstacles include
1) no cash flow plan (i.e. budget)
2) no tracking expenses, leading to over-spending
3) high and recurring debt
4) insufficient savings to cover unexpected expenses
5) lack of unity among couples for how to spend money (or where it goes).
Yes. True financial freedom is the ability to cover all your lifestyle expenses, without your current employment. Therefore, creating passive income streams are necessary to achieve financial freedom. It may be through creating one or multiple income streams from:
1) online business website(s)
2) rental properties
3) investments (retirement, or otherwise)
4) dividends
5) royalties
However, it is recommended you only choose 1 to learn and implement until you are successful. You cannot leave anything to chance when it comes to your money and your financial freedom!
We empower you— with a clear curated content path with practical steps, and expert advice to achieve financial freedom in the shortest time possible.
Helpful links
Want Financial Freedom Soon?
Subscribe to our email list. Don't wait. Trying to achieve financial freedom on your own can be long and difficult.