Avoiding debt can provide financial freedom from "summary" of PSYCHOLOGY OF MONEY. by MORGAN. HOUSEL
One of the most powerful ways to achieve financial freedom is by staying out of debt. Debt can be a heavy burden that limits your choices and flexibility when it comes to your money. By avoiding debt, you can free yourself from the obligations and stress that come with owing money to others. When you are not weighed down by debt, you have more control over your finances. You can make decisions based on what is best for you and your goals, rather than being constrained by monthly payments and interest charges. This sense of control can give you a greater sense of security and peace of mind when it comes to your financial future. Avoiding debt also means that you are not beholden to others for your financial well-being. You are not relying on borrowed money to fund your lifestyle or meet your obligations. This independence can be empowering and liberating, allowing you to live on your own terms and make choices that align with your values and priorities. Furthermore, staying out of debt can help you build wealth over time. When you are not spending money on interest payments or paying off debts, you have more to save and invest for the future. This can set you up for long-term financial success and provide a solid foundation for achieving your goals and dreams. In the end, avoiding debt is not just about financial security - it is also about freedom. By steering clear of debt and living within your means, you can create a life that is sustainable, fulfilling, and truly your own.
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