Do you own your phone or lease it?
I believe making payments on anything sets you back.
The cell phone companies now make it harder than ever to buy your phone outright.
They try to convince you of how great a deal you’re getting on a lease for only “$22 a month” but aren’t as transparent about all the fees, plus extra coverage like theft, loss, damage insurance and all the other extras, that end up costing you way more.
If you lease your phone, do you consider it debt?
I used to be in the mindset of not spending as much up front and making payments is totally “normal”. But I stayed broke for most of my adult life until 2017, when I realized that my debt was holding me back. I could never get ahead.
So I paid it off (all $28k of it) and have been living debt-free for 2+ years. It’s been an incredible journey that’s led me to financial life coaching because the freedom I feel now, the weight that’s been lifted off of me, is incredible.
If you want to live debt-free too and stop making payments, there is a super simple system (it almost seems too easy) that I recommend.
Get your FREE budget worksheet, here.