About my own financial profile, there is nothing impressive, I do not have a lot of money/saving, I do not have my own car, and I do not really do much investment.
If I were to mention one thing I feel proud about my financial status, (it may sound like I am trying to beautify my lack of money management skill) I am a debt free person.
I could still remember the excitement that I had when I finally paid off my loan for my University. I felt like a freeman, I never like the feeling of owing anything to anyone.
After I paid off the study loan, it was the bank loan of my parents’ house, it took me long 7 years to clear the remaining debt, so the house is also fully paid.
It may be by coincidence, but the book I started reading this morning about financial (Title: Real Tips, Real Money), the title of first article is “Avoid the Kiss of Debt”, it gave me a sense of happiness, thinking although I am not living a luxurious lifestyle, I did not break the fundamental rules in managing my own finance.
Well, I am not writing this post about how I cleared off my debt, it is obvious that my expenses are lesser and I was working hard to save and to pay off the debts.
I just wish to write about some good points after I became debt free.
- The freedom is the best feeling
I no longer feel that I must have a job in order to pay the monthly bill for my loan, for the house. Now whatever amount I earn, I save them for retirement, for emergency usage, not for the bank interest
With debt free, I could make an easier decision to change careers, to leave a relationship, or to move to another city/country. I am more empowered to lead a life I wish to live now
- Reduce the stress of my life
I am always forgetful, and I am not good at remembering the due date of the bills. This caused so much stress to me especially when there are many to take care of and to remember.
With debt free, it does not only save my time to manage the bills, I also get to enjoy the peace of mind I long for and knowing I get to decide how to spend every penny I get from my paycheck is awesome