rocket finance

What if I Were Debt Free?

I have been tagged by Plonkee in the post If I Were Debt Free.

When I first found out that I had been tagged on this topic, I immediately thought, “That will be easy to write about.” But as I began to consider the issue, I realized that I really hadn’t thought about being debt free. It seems like such a far away day, that I have not made any plans for debt freedom. I can’t even picture what it will be like.

But I think I need to think about it. Debt freedom is a great goal and I am working very hard to make it happen, but part of accomplishing a goal is in visualization. Great athletes are contantly talking about visualizing good results. I work with soccer players alot and I always talk about “seeing” the play before it happens. So why do I want to be debt free? What will my life look like with no debt?

I think I might quit my job. I don’t want to quit working, but I would like to find a job that I am really passionate about. Right now, I can’t make any changes. I can’t jeopardize my regular paycheck in any way. Don’t get me wrong, I don’t hate going to work, but I would like the freedom to try something new – even work in a ministry where the salary is very low. Debt freedom could make that happen.

Debt freedom would allow us to sell our home and upgrade just a little – or even just rent. We have three kids in one room at the moment and I don’t know how much longer we can go under these conditions. The problem is, our debt makes it so we might actually lose money if we sold our house right now.

Other than that, I would need to greatly increase my retirement contributions, open college savings accounts for my kids and take my wife out to eat more often. I am not really interested in any great lifestyle changes. Most of the things I like, I do already and they are pretty low cost.

Now, who to tag. . . I think most of the blogs I read are already debt free. . . and I am such a small player in personal finance blogdom that they might not even notice, but here goes:

Four Pillars

A Penny Closer

The Frugal Law Student