Debt Free Article :-How I Went From $40,000 in Debt to a Millionaire by Age 30

My goal is to be financial free by the age of 50. As I have mentioned sometime back, I was a real spendtrift. I maxed all my credit card, took personal loans and so on. But after reading great books like Rick Dad Poor Dad, Richest Man in Babylon and the Wealthy Barber. I am on my way to be being debt free. I have recently cleared my car loan and 3 credit cards. But I still like reading articles on what others are doing towards being financial free. Here's someone who did it at a very young of 30.

How I Went From $40,000 in Debt to a Millionaire by Age 30

I came from a family where money was always an issue. My father was a union electrician who brought in a nice, but not exceptional, living. My mom was a stay at-home mom turned jobbie-entrepreneur (as I talked about here). But, money was always tight.

When my parents separated in my early teen years (and ultimately divorced), that put further pressure on their financials and assured that they wouldn’t be able to pay for my college education.

When I graduated from arguably the best undergraduate business school in the country, The Wharton School of Business at the University of Pennsylvania in 1995, I had an Ivy League education and $40,000 of college debt. I was determined that in less than eight years, I would go from being in that financial hole to having a net worth of one million dollars.



Read More Here. How I Went From $40,000 in Debt to a Millionaire by Age 30

Being Financial Free - A man who retired comfortably at age 30 explains how much money he had to save.

I have finally cleared 3 out of my four credit cards. I cleared almost RM25,000 in 4 years. I was a real spendtrift. But reading great books like Rich Dad Poor Dad, Richest Man in Babylon and the Wealthy Barber. I made a pact with my self to be financial free. The road was hard, there were temptations along the way but I pulled through with the help from my loving and understanding wife. I have even paid up my housing loan using my Employee Providence Fund. Something I only found out that I could do recently. Well I might not stop working or retire early as I love being in the Food and Beverage Business but I will be financially free. Here is in article on Business Insider on how much money you need to save to be financial free.

A man who retired comfortably at age 30 explains how much money he had to save

After a mere 10 years of working as software engineers, Peter Adeney (better known as “Mr. Money Mustache”) and his wife Simi had enough money to retire comfortably and debt-free.

That was in 2005, right before Mr. Money Mustache’s 31st birthday.

“This was achieved not through luck or amazing skill,” he emphasized to Farnoosh Torabi on episode 38 of “So Money,” her personal finance podcast. “But simply by living a lifestyle about 50% less expensive than most of our peers and investing the surplus in very boring, conservative Vanguard index funds and a rental house or two.”

Mr. Money Mustache clearly figured something out — and he shares tips and strategies on his personal blog — but just how much sacrifice did it take to set himself up for such an early retirement? How much of his and his wife’s combined $134,000 salary was going to savings?

“I saved about two-thirds of our take home pay,” he told Torabi.


Read more at A man who retired comfortably at age 30 explains how much money he had to save

What Lies in your Debt? It pays to know

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The 10 Commandments of Getting Debt-Free | Credit.com

Nobody wants to go into debt, and everyone in debt wants to get out of it. Avoiding or getting out of debt requires a lot of self control, patience and smart decision-making, but it doesn’t need to be complicated.



To help keep you on your path to being debt-free, we put together a set of simple rules you can use as your guide.

1. Thou shalt not buy things you cannot afford.

Overspending can quickly get out of control. It may start with carrying a small balance on your credit card, but when you can’t pay off that balance the next month and you add a little bit more to it, you’ll have more trouble catching up.

This is about more than a bad shopping habit or a tendency to eat out often. Taking out a loan to buy a car that’s beyond your budget or a home outside your price range is going to make it very difficult to manage your other expenses.

2. Thou shall pay yourself first.

Before figuring out how much money you have to spend, dedicate a portion of your earnings to savings. You may spend most of your life debt-free, but if you haven’t spent many years building a retirement fund, you may find it difficult to make ends meet or to be able to retire when you want to. Keeping a tighter budget now so you can save will be worth the financial and emotional security you’ll enjoy down the road.

3. Thou shall have an emergency fund.

Unexpected life events tend to be expensive. When the car breaks down, when you get sick, when you lose your job, you don’t want to resort to using credit cards to pay for everything you need. A good rule of thumb is to put away a little bit of money each month until you’ve saved enough to cover three to six months’ worth of your expenses, and only dip into the fund for a true emergency. As soon as you’ve used some of the money, make a plan to replace it so you’re prepared for the next unpleasant surprise.

4. Thou shall track your spending.

Know where your money goes, and you’ll be able to make smarter choices about where to spend it in the future. You may be surprised to learn how much of your paycheck goes toward food or entertainment, but once you’re aware of your spending habits, you can change them if need be.

Click here to read the rest of the Commandments The 10 Commandments of Getting Debt-Free | Credit.com

What Lies in your Debt? It pays to know 

Website http://www.whatliesinyourdebt.com

Guarantee: 8 weeks 100% Money Back Guarantee

Get Rid Of Your Credit Card Debt, Clean Up Your Credit, And Make Debt Collectors Go Away? And Make Money Doing It! Our members actually make money using our process while not paying big bucks for a process that just doesn’t work! Rip off artists are abundant in these economic times. Just check Google and states’ attorneys' offices, con artists without a conscience are plaguing struggling home owners or people who are having hard times. Take control yourself and don't count on anyone to get you through the tough times. Our proven system will show you how to keep the banks and debt collectors at bay while making them pay you every time they break the law!

Only $99 for first month and $49 per month after....