Three years ago, I decided to live my life with debt by my side by loaning a motorcycle to use for my daily commutes to work and other personal journeys and trips. This loan changed the way how I budget my salary. A lot of sacrifices had been made on my lifestyle and leisure living just to pay the debt for three years. Now, I feel lightened and relieved knowing that starting tomorrow, I will now live my life with lesser debt.
Living life with lesser debt
Tomorrow, I will pay the last payment for my motor finance loan. I also taught that being that as the last payment, it should also be the last time that I will put myself into bad debt. Having that motorcycle is an exhilarating experience, but after reading the teachings of Robert Kiyosaki in his Rich Dad’s line of books, that experience became a major frustration when I finally understood the meaning of good debts and bad debts.
Now that I have lesser debt, I will now start to build my income-generating-asset column. The money used to pay for the loan will now instead be used to invest in the stock market. I already set this plan in motion months ago and this July will be the best time to put it into action.
I’ll start to fund my COL account at the end of this month since my application is already approved. So before that, I still have a month’s time to study and look for the companies that have a durable competitive advantage. My journey to financial freedom is now on its way to becoming a reality.