I Want You to Be Rich

And no, that isn't the title of some cheesy book or money-sucking infomercial. I actually want you to get out of debt and start accumulating wealth because:

• It will give you options. When you have cash, have absolutely no debt, have an emergency fund, and your bank account is nice and plump, you have options. Lots of them. Want to start a new business? Want to take the hubby on a surprise vacation or give him an amazing present for his birthday? Want to support your child's dream of becoming an Olympic gymnast? You can do basically anything when you have the financial resources that wealth gives you.
• It will cut down your stress considerably. When you have wealth, the number one cause of stress (and divorce!), namely financial problems, go away. The daily stresses of worrying about your job/bills/debt is replaced with relaxation and enjoyment of the day. Your health will probably improve as well.
• You will be a role model to others. How many people do you know who are debt free, have plenty of money for all of their needs and many of their wants, and are very content with their financial life? If you answered "no one" or "not many", you are like most average Americans. We simply have so few good financial role models that we don't have anyone to teach us how to be good stewards of our financial life. Once you are debt free and building wealth, you will be an inspirational role model to others.
• You will be able to buy what you want. You will also not want much. When you go from broke to rich, you learn the value of money and you also get to learn what is important, namely that the steps to getting rich--paying off debt, paying cash for what you want, and saving and investing your money for the future--teaches you that no material item feels as good as being debt free feels. So that while you may have the money when you are rich, to buy anything you want, the general materialist temptations that affect most people in our society will cease to tempt you.
• You will be able to give to others. It's hard to give to others when you don't have much. Financial entanglements and drama often occur because while you want to help someone out financially, you also need your money for your own debts, so if you give a loan you NEED the money back at some point in time. When the money doesn't come back, you end up with all sorts of drama. How much better would it be to have money that you can simply give away as a gift to a friend, a donation to your church, or a new car to your mother, without the problems that giving a loan incur?
• You will be able to "live like no one else". I love that quote from Dave Ramsey because it is true. I would hazard to guess that 99% of the people I know simply can't live exactly the way they want to live because they are in debt and have no wealth. They are tied to jobs that stress them out, huge mortgages that keep them working like a hamster on a wheel, and an ever present fear of total financial meltdown. How much more creative and happy would people be if they could live like no one else?

Anyway, my wish for you is that you become debt free, then become financially free. Free to do what you want, when you want, and live exactly as you want. I bet that once you pay off your debt, and have plenty of cash in the bank, Labor Day will have a whole new meaning to you. Happy Labor Day!