Today, I want to share some amazing stories about families that have learned how to become debt free. These are some amazing debt payoff stories that will motivate you to become debt free!
According to the Motley Fool, the average American family has $7,630 in credit card debt, $11,244 in student loans, $8,163 in car loans, and $70,322 on a mortgage.
However, if you think these amounts seem low, these figures also include those who don't have any debt. For example, when you only factor in those with a credit card balance, the average amount shoots up to over $15,000.
By reading other people's debt payoff stories and learning how to become debt free, I believe that you can find motivation to pay off your own debt, learn new ways to become debt free, and realize that paying off your debt is possible.
Learning how to become debt free can lead to many positives, such as:
- You may finally feel less financial stress.
- You can stop living paycheck to paycheck.
- You may be able to use that money towards something more important, like saving for retirement.
- Reaching debt freedom may allow you to pursue other goals in life, such as traveling more or looking for a better job.