Good Debt

Good Debt

Alice was a young professional with a burdensome load of debt. She wanted a better life but with all those creditors staring down at her she was unsure of how to forge ahead to achieve that better life. Home loan, auto loan, credit cards, support for relatives and no emergency savings was what she had to work with in addition to a lack of steady employment.

She was quite doubtful of the possibility of being debt-free and financially breathing easier within twenty-four months, but she was willing to give it a try. First domino to fall, as it usually is, was a credit card, then another.  Several months later the auto loan was gone and a used vehicle was purchased, cash! Then finally within 18 months all the debt was felled, 6 months ahead of schedule.

Alice bought into a crucial principle that declares the only good debt is paid off debt.

Though the name is not real, the experience just mentioned is all too real and happens all the time when people get serious about living within their means. The biggest deterrent to getting started is the comfort of the devil they know over the devil (angel in this case) they don’t know – the hard work of sticking to the goal to get to the place of having only good debt. Again, the only good debt is paid off debt!


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