“A debtor is a slave to his creditor.”
i was inspired by a news story that i heard recently. emanuel and sheree dixson became only the second family in the history of knoxville habitat for humanity to pay off their mortgage. they purchased the home in 1998 and retired the mortgage seven years ahead of schedule by making extra payments at every opportunity. earlier this month, emanuel left for his second tour of duty in iraq.
i heard sheree interviewed on a morning news show. when asked how they were able to accomplish this task and pay off their mortgage so early, she said, “we work hard. we clip coupons. we buy generic products. and we are careful to only buy the things that we need.”
i have written previously on the financial benefits of living a minimalist lifestyle. one result of this financial benefit is the ability to get out of debt, stay out of debt, or never go into debt in the first place.
we all know people (or maybe we are living it ourselves) who have gotten caught under the crippling weight of financial debt and can never seem to get ahead. now, they find themselves living a life not for themselves, but simply for their creditors… and that is no way to live.
buy only the things you really need. live a minimalist life. stay out of debt. and enjoy the freedom that comes from refusing to be a slave to your creditors!
to see our family’s spending plan: a guide to control your spending.
to read more benefits of minimalism: benefits of minimalism.
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It’s stories like this that prove that people can get out from under the burden of debt. I read recently that the number one stressor in America is money. I don’t think it would be the case if people would put a damper on lifestyle inflation, and only get by with what they really need.
I agree with you, Matt (and Joshua). Unfortunately, our society no longer understands the concept of delayed gratification.
My grandparents, who have always lived in a tiny appartment in Rome (Italy) purchased a fairly large house in the countryside over 20 years ago. Back then, it wasn’t much more than a stable for cows with some small rooms above, but through the years they have managed to both pay it off (not that it was very expensive) and transform it into a lovely family home.
When they came to retiring age, there was their dreamhome in the country.. all paid for and ready for them…. I think our generation has lost this kind of thinking, sadly….
Greetings from the netherlands!
p.s. I love the new lay-out!
Greetings from the Philippines. I chanced upon your website since I am trying to start to become a minimalist myself. Just like the Dixson family we just finished our mortgage this year and we truly are the proud owners of our own home. We were able to achieved this even if my husband lost his job a year ago. Good thing we have saved enough and this was what we used to pay our mortgage till my husband got a new job after 7 months. We are extremely content since we have our own home, we have no debt and we have enough savings in the bank.
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