Four Benefits that come from paying in full.
Paying for things in full come with four great benefits. When you start living your life by this philosophy and not by “buy it with a credit card now and pay BIG later,” you’ll start finding room to have many sighs of relief when it comes to your finances. If you can start applying some of the concepts I’m going to give you in this article you will be on the road to a much more abundant life.
Benefit #1 You spend less in the long run, because you are no longer paying interest.
When you use a credit card you are paying for the luxury of being able to buy something you might not have otherwise been able to afford with out it. The downside to this is you start having to pay interest rates. Today’s interest rates can be over 9% and that really adds up over the course of a few years. In the long run you’ll find yourself paying MORE than top dollar on an item that you have long since grown tired of.
While it might take you a little bit longer to afford the item your looking to purchase you’ll be happier in the long run. Other than that, if it’s not a house, car or business it’s best you apply this advice to everything you purchase.
Benefit #2 Peace of mind.
A huge peace of mind comes from having your possessions paid in full. You are left with the knowing that you OWN the items and the items don’t own you.
Benefit #3 More Flexibility.
When your’e not strapped to a whole lot of debt you end up being able to have more money for other things. More money for vacations, and choice items.
Benefit #4 Your Credit Stays Looking Nice.
If you pay all your other bills on time and have a decent income, then your credit ends up staying nice. This will come in handy when it’s time to buy a house or a car. You might even need it for a quick emergency line of credit. (Though I really don’t recommend taking out a line of credit for an emergency.) Having good credit can also be important to landing certain jobs.
I’m sure there are more benefits that come from paying for things in full, however these are the best I can think of. Since I pay for things in full in my own life, I’ve come to know these benefits well.
What is this stuff?
