Very simply…YES.  It is a big deal.

Forbes Magazine puts out an annual issue of “The 400 Richest Men in America.”  A few years ago, Forbes decided to conduct a poll with this wealthy batch of 400 men. One of the questions they were asked was, “What is the most important key to building wealth?”

Now remember, this is the richest men in the country.  This isn’t your unemployed Uncle Frank or your broke brother giving you a hot stock tip.  This is wisdom from the wealthiest men in America giving you their single, best piece of advice for handling money.

When asked this question, 75% stated “becoming and staying debt free is the #1 key to wealth.”

WOW!

When you have debt, something very frustrating happens with your money.  Debt equals payments, so every time you get a paycheck or any type of income, you have to send your money off to someone else in the form of one of those payments.

So do the math and tell me what happens when you don’t have debt and you don’t have payments?

You get to keep YOUR money!

Brilliant isn’t it?  When you have debt, you are always working for someone else.

Instill a habit into your life today that you’re going to live debt free.  Pay cash for things or don’t get them.  That’s not just my advice.  That’s the advice of the majority of this country’s richest individuals.   

Related posts:

1. What Happens When You Go Into Debt And Can’t Pay?
2. What Happens To My Credit If I Pay All My Debts?
3. What Happens If I Have Credit Card Debt And Can’t Pay? (Part 2)
4. What Is Bankruptcy And Why Is It A Big Deal?
5. What Happens If I Have Credit Card Debt And Can’t Pay? (Part 1)