Debt 10 Reasons You Should Pay Off All Your Debt!

Hey y’all! My name is Meghan and welcome to my blog! Paying off your debt is like working out. No one ever says, “Man, I regret doing that.” If you are thinking of living debt-free, I am happy to help convince you it’s a GREAT idea. It was for us. So, without further ado here are 10 reasons your family should pay off your debt.

Number 1: Living with debt is stressful.

If you are a military wife or military family member you know that income can be drastically different month-to-month. Of course the service member’s income is highly predictable, but the spouse who is forced to quit and find a new job every couple of years can cause extreme income fluctuation.
If you buy a car based on what you can afford with your dual income, and then half of that income disappears? Stressful. See my post about how your debt is a rocky foundation for your marriage. If you aren’t stressed about your debts, allow me to assist you.

Number 2: Instability

Military life is unpredictable enough without out of control finances. If you are worried about whether or not you can make your $1000 payment toward your student loans and your $300-500 car payment this month, we have a problem. There goes a lot of your money.
If you can’t get ahead because your finances look like ^^, it’s time to change your tune and pay off your debts. I know when we had to live in a less than ideal apartment so we could focus on debt repayment, I felt trapped. Ultimately, we did what we had to. We took care of our finances, but it certainly wasn’t fun. It was, however, necessary.

Number 3: It gives you a puzzle to solve.

If you are a control freak with a spouse in the service, you need to budget. I am telling you, this is pure micro management heaven. I needed to SEE how we could realistically reach our goal of total debt repayment.
It involved a white board, a spread sheet, pay stubs, and a calculator. It. Was. Rivoting. A bit stressful until I solved the puzzle, but once I did total catharsis.

Number 4: You and your husband can work on your communication skills, and become better at team work.

After paying down our debt, Matthew and I can do anything. Our communication as a couple has improved in the extreme. That isn’t to say that it wasn’t the absolute opposite of fun talking about money for a long time. But, once we understood each other, things got really, really good.
Give us a problem! Our team work and communication skills are now exceptional. We could solve it!

Number 5: YOU CAN NOW DEVELOP ACTUAL PRIORITIES AND GOALS

Did you think we never got to do anything fun or have anything we want because we’re frugal bumps on a log? Incorrect, and don’t worry you won’t be either. We enjoy everything we do together more! It’s always paid for!
Early in our marriage, Matthew and I created a powerpoint as was recommended by some of our close friends. We used it to document about ten years worth of goals and we have for the most part, achieved them all! We had some shift in priorities, and we had some mindset changes. Overall, we exceeded our own expectations!
People who document their goals are far more likely to achieve them. This can be you! It is a whole lot easier to set realistic goals once you have paid off your debt. You know the effort it takes to grow your finances, so you can see what is achievable.
You may even decide that what is achievable is not satisfying to you, and you may need to alter your career path or expectations! There is a lot to learn here.

Number 6: You will probably be able to stay home with your kids when you have them.

I know this isn’t everyone’s dream, but it is mine. That stay at home mom life, I want it. I want it for me but mostly for my kids. Matthew’s job keeps him too busy for me to feel good about not being home with my babies.
If you have no debt’s, you are more likely to be able to afford a one income lifestyle. Less money going out every month = more money to live on. And, yet another reason to pay off all your debt!

Number 7: You will humble yourselves and not get too big for your britches!

This has to be said. Don’t get me wrong, anyone can be a jerk. I just find it is less likely you will be a jerk when you say, “I’m sorry, we just can’t afford that right now.”
No one in their twenties has it figured out, so don’t be too big for your britches. It’s just weird!
When you pay off your debt, above all you will be grateful, and grateful just isn’t the breeding ground for snobbery.

Number 8: When he retires, KICK UP YOUR FEET!!!

Say your husband does 20 years, or even 5 years, and decides he is done with “selfless service,” it’s less scary. If he wants to get out and you are breaking even, or even better have some savings, hakuna matata! Go home, see your family, relax. Because: you don’t owe anyone anything!
If you aren’t a military family, you get the gist! Any large, life altering change is easier with the comfort of knowing you have no bills outstanding. PAY OFF THAT DEBT!

Number 9: It helps you develop self-discipline.

Just like sticking to a gym schedule, a financial sense of accountability can work your mental muscles. I know the times Matthew and I start going out to eat, we slip more and more. The more I cook at home, the less we miss eating out. It’s just a little muscle called self control and it gets more toned the more you exercise it.
Paying off your debt is like self control dead lifting. It is hard! It takes regular practice to get your form right, and it builds those core muscles that help you lift heavier weight.

Number 10: It’s biblical. Sorry. I know. AND! Work those tithes in girl, it’s the best thing you can spend money on.

Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? Luke 14:28
Dishonest money dwindles away, but whoever gathers money little by little makes it grow. Proverbs 13:11
The rich rule over the poor, and the borrower is a slave to the lender. Proverbs 22:7
Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law. Romans 13:8

I hope you’ve come here and found compelling evidence to finally pay off that debt! As always, I am so glad you stopped by the blog!