Can everyone be DEBT FREE?!

A friend of mine asked - How can someone buy things without debt? How is that even possible? Life is impossible without debt is what he said. This conversation kindled me to write this.

Can everyone be debt free? Is it really possible?

No, everyone cannot be. It's  like asking can everyone be play for Indian cricket team. Nope, only those who work hard and have the determination to play will end up playing (let keep aside the politics). Frankly speaking, it's highly impossible to be debt free in your life. 

In some way or the other we will be forced towards debt at some point in time. There could be some unforseen events like health issues for which we might go for debt if not covered with adequeat health insuranse. Whereas in all other cases we are forced to take loans, and that force is not external. We look around the society and force ourselves to buy things what is not needed at all. 

There is no harm in taking debt to buy a house where you will live in for the rest of your life and that too only after you have considerable down payment to make. But not to buy something that is not necessary at all. The millennials are so obsessed with spending a lot of money on their plastic cards. We have personally seen many people who have piled up their credit cards and struggling to close them. 

When to take debt - in case of emergency situations. 

By taking debt you are selling your future and working hard for the bank. 

Few things takes years of hard work and discipline to achieve. It doesn't come along easily. Being debt free is one such. 

To be debt free or not to be solely depends on you. 

If you don't borrow money you can't go broke! No one gets this to understand or have the patience to realize it. 

Just one more thing before I end - 

Being debt free is FREEDOM. Freedom is powerful.

For financial planning and investment-related queries, write to us at dropletadvisory@gmail.com or call us at 9962399924 / 9551373455. 

www.dropletwealth.com

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