It used to be something along the lines of "being a homeowner, having two kids, a pet, two cars, and maybe that white picket fence." The first thing mentioned from that list was "being a homeowner" and that used to be the biggest part of the classic American Dream. That's not the case anymore. Guess what the new American Dream is...To Be Debt Free.
That's right - TO BE DEBT FREE. There was a recent poll on credit.com, and the two biggest aspects of The American Dream (above homeowner-ship) are now: Retiring Financially Secure and Being Debt Free, at 27.9% and 23% respectively. Coming in third place was Owning a Home at 18.2%.
Let me ask you something. When asked what you would do if you won the lottery, what is your answer?
I can tell you mine. I've always said "pay off my debts first, then maybe take a nice vacation" (as well as setting some aside for my kids). So I guess even though I didn't participate in the poll, that's been my idea of The American Dream for years - To Be Debt Free.
Of course, debt will always be a part of life. It will always be something that's needed. But wouldn't life be great if it was completely debt-free? Or even close to it? It would surely be a life with less stress.
|Try this budget calculator at MappingYourFuture.org|
The first step in an attempt to being debt free - Make a budget and stick to it. Need some help? Here's a great budget calculator to help you get started. I'm taking the challenge. I hope you will too. Because if the New American Dream is TO BE DEBT FREE, I want to achieve that dream.
You can get some money-saving tips and ideas from my Pinterest board for Finances. Don't follow me on Pinterest yet? Follow me HERE. =0)
Happy Monday, everyone!
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