Eliminate debt from "summary" of The Automatic Millionaire by David Bach
One of the most crucial steps to achieving financial freedom is getting rid of your debt. Debt is like a heavy weight holding you down, preventing you from moving forward and building wealth. It's like trying to run a race with ankle weights on - you may be able to make some progress, but you'll never be able to reach your full potential.
When you have debt, you are essentially working for someone else. A portion of your hard-earned money is going towards paying off interest and fees, instead of being used to invest in your future. By eliminating debt, you free up more of your income to save and invest, allowing your money to work for you instead of against you.
Start by making a list of all your debts, including credit cards, student loans, car loans, and any other outstanding balances. Take a hard look at your spending habits and identify areas where you can cut back in order to put more money towar...
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