The big benefits of adopting a debt-free lifestyle

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In his column for CTVNews.ca, columnist Christopher Liew explains the benefits of adopting a debt-free lifestyle, as well as the change in financial mindset and sacrifices it takes.

Have you ever felt like you’re stuck in a rat race? Like no matter how much you do or how hard you work, you’ll never be completely free from financial obligations. Just as quickly as money comes into your account, it goes out to bills, living expenses, and debt payments.

Lending money was a lot riskier, as it was far easier for said borrower to simply run off and never pay. Loans were typically only given to established community members or those from wealthy families with property that could be used as collateral.Thanks to the internet and today’s modern interconnected society, though, almost anybody can borrow money or apply for a line of credit.

The question is, are you willing to make sacrifices on your end so that you don’t spend more than what you earn? The better your credit score, the less you’ll need to worry about borrowing money for the important things in life, such as buying a house or applying for a small business loan.Many relationships are absolutely destroyed by stressful money situations. Financial hardship can break a great relationship, as both parties struggle to keep up and may blame each other for their circumstances.

O.J. Simpson, the American football star and actor who was acquitted in a sensational 1995 trial of murdering his former wife but was found responsible for her death in a civil lawsuit and was later imprisoned for armed robbery and kidnapping, has died at the age of 76.

A Wisconsin woman who at age 12 said she stabbed a sixth-grade classmate nearly to death to please the online horror character Slender Man remains a risk to the public and won't be released yet from a psychiatric hospital, a judge said Thursday.Donald Trump is blaming migrants in the U.S. illegally for fuelling violent crime as part of his campaign to win back the White House, repeating rhetoric used during his previous run for the presidency.

Whether you're a dedicated hobby player or a casual board gamer, have you ever stopped to wonder what, exactly, it takes to create one of the beautiful board games you see everywhere?The Royal BC Museum has been named the steward of a collection of Terry Fox's belongings, including the shoes and prosthetic leg he wore during his Marathon of Hope.

Source: Loan Digest (loandigest.net)

 

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