How can I become free from debt?
Many people have mortgages and debt as a result of homeownership or investing. While debt certainly plays a pivotal part in us realising our goals, becoming debt-free is a fantastic achievement that millions of Australians strive for.
Benefits of being debt free
Paying off your debts can lead to numerous benefits, including:
- The ability to redirect funds to wealth creation and lifestyle
- The ability to look to the future with more confidence
- Reduced financial stress
Becoming debt-free requires a strong focus, clear direction, and a good understanding of your circumstances and what options you have available to you.
If you’re striving to become debt-free, consider the following:
- Understand your saving capacity
- Have a clear objective in mind before you start
- Understand the alternatives and choices that are available to you