All my life, I’ve lived a debt free life (Apart from tiny leverage I took to buy cheap stocks during Covid crash).
I have no debts whatsoever.
Living a debt free or virtually debt free life is a life worth living.
It keeps you at peace of mind. Away from constant pangs of anxiety & worries. Helps you making better decision.
Healthy debts like home loans are okay.
Though, it’s better to stay away from junk debts like Car Loans, Mobile on EMIs, etc.
Any loan for asset which grows in value is healthy loan. A loan for asset which depreciates in value is junk/dumb loan.
Too many people end up in debt traps & chains of EMIs that they can’t afford to live life freely.
Also, the major reason for bankruptcy? Debt.
I wish people free themselves from debt traps & experience life debt-free. I guarantee you won’t like to go back to debt. Ever.
