By Veronika on Debts To Riches
Some recommend avoiding all luxuries while paying off non-mortgage debt – no travel, no meals out, no purchases other than necessities. I’m not one of those people. A few of my friends and family members have passed away at young ages, and I know that I can’t take the average 82-year lifespan of a Canadian woman for granted. If today was my last day on this planet, I wouldn’t want to feel like I’d saved my best years for the non-existent future.
There can be this attitude that if you have non-mortgage debt you’re failing financially and you absolutely must pay it off completely before allowing yourself any non-essential spending. I feel that there’s always a balance – you can be committed to paying off your debt in a reasonable amount of time and spend money on things that you value.
Our last vacation, excluding work travel, was to the Dominican Republic in 2015 to celebrate my graduation – on my bloated line of credit, of course! It was an amazing time, but I couldn’t truly enjoy it as much as I wanted to. I had $130,000 in student loan debt…Read More on Debts To Riches