I have been debt free for (almost) three years.  The following is inspired by a conversation that I had recently with a good friend – a buddy of mine who has decided that now is the time to do something about his debt.  I’m very proud of him, and I hope this post inspires him – and you!

1.  I now live in the present, and not in the past.

2.  I no longer worry about late fees, interest rate changes, interest payments, lost payments or finance charges.

3.  I have peace of mind.  If something were to happen to me, my wife would not have to worry about our finances.

4.  I earn interest.  I don’t pay interest.  This feels awesome.

5.  I am now acutely aware of the value of a dollar.  In the past, if I could make payments, I could afford it.  Now, if I can’t pay for it, I can’t afford it.  This basic shift in thought has radically changed my life.

6.  I no longer dread going to the mailbox.

7.  I can afford to fund retirement accounts.

8.  I can afford to fund education savings accounts.

9.  I am free from the emotional baggage associated with debt.  It’s impossible to adequately describe how good it feels to be debt free.  Suffice to say, if I had known how awesome being debt free feels, I would have gotten out of debt a decade ago!

10.  I can, hopefully, inspire and encourage others.

11.  I am setting a much better example for my kids.

12.  I am able to give more time and more money to those who are in need.  There are only three things one can do with money – give, save, and spend.  It feels good to save.  It feels good to spend.  It feels great to give.

13.  I now know that I can establish a goal, push through difficult times, and change my life.  These truths are helping me as I now focus on my health – losing weight and becoming a runner.  I might has been replaced by I will.

14.  I now make big plans.  I have learned to dream of a better and brighter future for myself and my family.

15.  I spend a little extra on nicer things for my wife.  In the past, credit card debt crippled me.  Now, with a proper budget and some forward thinking, I can actually plan for nicer things.

16.  I can disregard every credit card application that comes my way.

17.  I have found solid financial footing.  With my debts eliminated and an emergency fund in place, I feel much more secure than I did three years ago.  None of us knows what the future holds, but I feel much better now than I did then.  Much better.

18.  I can listen to my man Dave Ramsey and smile knowingly when callers scream “We’re Debt Free!”.

19.  I have a deep respect for those who have paid off much more than I paid off – and for those who are still in the midst of their debt reduction journeys.  I am amazed by some of the debt reduction stories that I have read over the past four years.

20.  I can write this post.  When I started No Credit Needed, I had one goal.  I wanted to be debt free.  It took 10 months, but I managed to pay off my last debt in February of 2006.  Since then, I’ve done my best to be honest, open, and forthright about my struggle and my successes.  I hope that this site blesses you as much as it has blessed me.

If you are ready to get out of debt – and start your own journey towards being debt free – may I suggest the following resources?

No Credit Needed Debt Reduction Guide

No Credit Needed Debt Reduction Free eBook

Debt Reduction 101

10.  When you start your journey, you will be pumped!  You will read books, listen to radio programs, subscribe to debt reduction blogs (hint, hint), and fill your mind with debt reduction strategies.  After years of ignoring your debt, you will have had enough.  With enthusiasm, you will create your own debt reduction plan.  You will be ready.

9.  As you move forward, you will learn to sacrifice.  By giving up wants and focusing on needs you will be amazed by how just how much wasteful spending you had been doing.  This will bum you out, just a bit, but you’ll be thrilled to see how much extra money you have.  In these early days, you will put every single extra penny towards debt reduction.  You will be on fire.

8.  After a few months, you will really get the hang of it.  Budgeting will become second nature, and you’ll really think about how you are spending your money.  Instead of fighting with your spouse, you’ll learn to talk.  As your balances shrink (much too slowly, you will think), you will begin to dream of life after debt.

7.  Just as things are moving along nicely, you will have to deal with an unexpected emergency.  Your baby will get sick.  Your hours will get cut.  Your washing machine will die.  Something will happen.  That’s why you need your emergency fund.

6.  After the emergency has passed, you will struggle to find motivation.  The enthusiasm with which you started out will no longer be there.  Your goal date, which seemed so possible, will seem like fantasy, now that you’ve spent time (and money) dealing with the emergency.  You will think about quitting.

5.  Following some good self-talk, you will decide to press on with your debt reduction.  Instead of wallowing in self-pity, you will remember why you started this in the first place.  You wanted to be free.  You wanted to save for retirement.  You wanted to be a good example for your kids.  You will plant a flag in the ground – and you will get back on track.

4.  As you begin to rid yourself of your debts, you will find new ways to create income and save money.  You will work harder than you have ever worked before and you will focus all of your energy on one, consuming goal.  You will begin to hate your debts, in a way that you never thought possible.  You will rock.

3.  Near the end of your journey, you will see the finish line.  Six months, five months, four months, three months… No matter where you are or what you are doing, you will be counting down the months, weeks, days, and even hours until you will be debt free.

2.  After you make your final payment, you will rejoice.  You will scream.  You will shout.  You will run around your house, jumping up and down, like a child on Christmas morning.  You will be free, free, free.

1.  Upon thinking about your journey, you will be thankful.  You will be thankful for the lessons you learned.  You will be proud, of yourself and your family, for the hard work and the sacrifice.  You will have done something that very few people are willing to do.  You will feel awesome.

Need a little help getting started?  Check out my free Debt Reduction Guide (And E-Book)