I recently came across an article that discussed “debt free” freedom. There were many great techniques, for free I might add, that offered to help readers live debt free. Instead of repeating what the article, and numerous others, already present; I would like to take a look at the mindset of someone who is free and happy.
According to Erich Fromm in his book, “Escape from Freedom,” while we all want freedom there is a burden of responsibility that accompanies that desire. A free person is responsible. I realize that this has been said a lot and quite often is a main contributor to the “stressball” one carries with them, but let’s look closer.
The definition starts with the adjective “accountable” and continues with the idea of “something within one’s power and control.” So, to be responsibly debt free implies being accountable. Let’s look at this literally. In accounting, assets must equal liabilities. Therefore, it starts with spending having to equal earning. I always heard it as living within your means.
Wait…what happens when “something happens.” You know, the extra things that accumulate all month you don’t have the money for because you already spent your income. And THERE IT IS!!!! So, living within your means actually translates to living below your means. What about debt. There is nothing wrong with borrowing money but it is a short term solution that requires short term payback. What freedom is there in owing more per month than you earn? Frustrating…maybe; reality…certainly. Add into this donations and taxes…well you get the picture.
Why do so many people slide into a difficult time with what appears to be a simple process? Mindset. Part two of the definition of responsibility is that something is within your power to control. The mind is one of the most unique and powerful tools we have available to us. Map out a budget. Include doing and being who you truly are and understand why giving is more important than receiving. Make a plan for your HAPPINESS.