How to Live Debt Free

Living without credit while raising a family.

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How to Live Debt Free - Stay at Home Moms Living without Credit

how to live debt free
How to live debt free. For many of us, the dream of being debt free for life sounds blissful, and a little intimidating.

Learn how living without credit can be a fantastic choice for stay at home moms.

If your kids walked up to you and asked you how to live debt free, would you know what to tell them?

Probably not. However, it's not too late to learn how you can live debt free for life.

The idea of learning how you can live debt free is a foreign one to most people in America today. After all, most people are spenders, using credit cards for many purchase, taking out home loans, buying a car with a loan, and not even thinking about using credit to purchase items like furniture, new televisions, and more.

You may be surprised to find that most families have at least $10,000 of credit card debt, which doesn't even consider home loans and car loans.

Unfortunately, living this type of a lifestyle can lead to long term financial problems. If you're living without credit, before you know it, instead of controlling your own life, debt is controlling your life for you.

The good news is that you can learn how to be debt free for life. You just need to find a whole new way of looking at life as a stay at home mom.

Reasons to Live Debt Free

Maybe you think you're doing just fine, managing all your debt each month while being a stay at home mom. To learn how to live debt free, you first have to realize that living in debt is really a problem.

Then, you need to look at some of the important reasons that you should be working to live a life that is debt free while being a stay at home mom.

Ethical, Personal, or Moral Reasons
One of the main reasons that many people want to be debt free for life is because of ethical, personal, or moral reasons. Some people feel uncomfortable owing others. Some even feel like debt is simply money they don't own - almost like stealing it. This is the reason why some people are living without credit.

Avoid Previous Mistakes
Another reason to life without debt is to avoid previous mistakes. Maybe you have dealt with a bad credit problem in the past and you don't want to repeat it. Most people that go through a horrible debt problem want to avoid it in the future at all costs.

Stay in Control of Your Financial Destiny
Do you want to control your own life and your financial destiny? If so, that's one more reason to learn how to live debt free. This way you control your life instead of allowing that debt to control everything you do now and in the future. Which is great while being a stay at home mom.

Teach Good Lessons in Money to Your Kids
Probably one of the most important reasons you need to learn about living debt free and not living without credit is to teach good lessons in money to your kids. If you live a life mired in debt, think about what your kids are going to learn.

They will grow up and simply repeat your mistakes. Showing them how to eliminate debt and then live debt free will help them develop important mindsets about money that will affect their own financial future.

What Does it Take to Live Debt Free?

When you want to learn how to live debt free, it's important to realize what it is going to take. It's not always going to be easy, but it will pay off greatly in the end. One of the main things it will take to live debt free is discipline. You'll need to be disciplined enough to stop racking up more debt.

You'll need to curb spending so you can pay off debts. Once you're debt free, it will take discipline to avoid living above your means and going into debt once again. Having goals also can help you to live debt free. While living debt free has challenges, if you keep financial goals in mind, it can keep you motivated. After you become debt free and you adopt this as your lifestyle, working to become debt free for life, you'll be able to enjoy a sense of peace without having to deal with debt hanging over your head.

Uncommon Things Done By People Living Debt Free

In a country where debt is actually the norm, when people learn how to live debt free, often the things they do end up looking pretty uncommon and strange to others. However, they do make a huge difference. Here are just a few of the "uncommon" things that people living debt free often do that really contribute to their ability to be debt free for life.

Save Money and Purchase a Car with Cash
Instead of going into debt for a vehicle, they save up so they don't have to take out a loan.

Pay the Mortgage off Early
People working to live debt free work hard to pay the mortgage off as early as possible. This saves a huge amount of money in interest and also eliminates one more debt from their life.

Stop Using Credit Cards
Another uncommon thing those how learn how to live debt free do is stop using credit cards. Some cut them up while other simply choose to avoid carrying a balance.

Saving Up an Emergency Fund
Emergencies do happen to those who want to be debt free for life take the time to save up an emergency fund. This way when a financial emergency occurs, they don't have to fall back on a credit card.

Create a Budget
In order to live within their means, those living debt free create a budget. This is done by taking a look at all the money coming in, budgeting out monthly bills, other necessary purchases, and money to go to savings. Then they stick to the budget they create.

What to do with Extra Cash?

Once you learn lessons in how to live debt free, you are going to have excess money once all your debts are paid. This means it's important to learn what to do with that money. One of the best things that can be done with the excess money is to save it. You can use it to create that emergency fund, to put into savings accounts that draw interest, or you may want to invest it in a way that you secure your financial future when your retire.

Learning to be debt free for life is one of the best things that you can learn in life. Not only will learning how to live debt free be an important thing for your own life, but it is also one of the best things you can teach your children so they can enjoy a prosperous life as well.

Money Saving Resources

Use the following resources to help you on your path towards becoming debt free.

1. More pages on
  • How to Get Out of Debt
  • Financial Freedom: The True American Dream
  • Different Types of Debt
  • What the Experts Have to Say About Debt
  • How Debt Consolidation Works
  • About Payday Loans
  • Myths About Your Credit Report
  • Consequences of Poor Credit
  • About Bankruptcy
  • 2. Debt Proof Living:
    I found Mary Hunt when I first started to pay off my own debt. Her resources and support were just what I needed at the time, and they might be of benefit to you as well. Check it out: Debt Proof Living

    3. Rayven Recommends these books on Amazon:

    Are you debt free, or working towards being debt free? What tips do you have to share?

    tell us what you think

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