Out of Debt and Happy – by Matt

Written by Lifebook Member Matt Beagle

Over the last 15 years, I had invested many hours in learning the two main strategies I see in life with regard to money.  My study showed that you either leverage everything under the argument of the “velocity of money” or go cash only and never use debt.  I’ve done both, to the tune of over a million dollars and here is what I came away with at the end of it all.

I had a lot of stuff with debt.  I had beautiful lakehouses, new cars, etc.  I also had stress, real stress.  And frustration that came with “where did all the money go?”  Worst of all, I found myself proud.  Proud to the point of pretentious.  Thinking I was really somebody and looking down on others when in fact I was leveraged to the hilt.

Then, I decided to shift gears.  It started with my heart.

I had to consciencely move into a state of gratitude.  This is while selling the lakehouse, the ski boat, my Rolex, my wife’s 3+ct. diamond ring.  It wasn’t easy.  We got used to those things and so did our friends.  But as we made this push to pay off everything, and I mean everything, we became very happy.  Another thing happened, I didn’t have as much stuff, but I loved what I had and I really appreciated it.

You can make your own choice.  All I can say is whatever path you decide to take, be intentional with it.  If you are going to use leverage, know why and the mechanisms to do so.  Also know the stress that comes with it.  If you decide to go cash only, know why and how to do so as not to set yourself up and be vulnerable and have to slip right back into debt because of poor planning.

In the end we are debt free and very happy.  Good luck with your decision and financial future!

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