The Importance of Being Debt Free

Setting the goal to be debt free is crucial as it liberates individuals from future decisions constrained by past promises. Debt, defined as entering into a contract to repay borrowed money, can hinder one's ability to make choices based on current circumstances instead of outdated commitments. Many people find that their past decisions regarding borrowing often do not align with their present needs or desires, leading to frustration and a lack of fulfillment. Living debt-free allows for greater autonomy in life, enabling individuals to adapt freely to changing circumstances without the burden of financial obligations.