Getting out of debt is one of the most difficult tasks a person can face in their life, however the true challenge begins when you are out of debt.

Staying out of debt is a difficult task to accomplish because it is a never-ending process, unless you come across a source of money where you no longer have to worry about money.

There are various forms of debt; the debt I feel is the worst to carry is credit card debt. The reason for this is because you can easily control your spending on your credit card, you determine whether you make the purchase or not and as such control whether you go down the path of debt.

For me there are still reasonable debt to carry, such as a mortgage, which most people do get in order to purcahse a home.

When you are getting out of debt, you require a plan. The plan is generally a budget you create to control your expenses.

If you continue to follow that budget, and even improve on it, you will not only be able to save more money than before but you will be able to stay out of debt in the process.

Remember, staying out of debt is probably one of the hardest tasks you will undertake, however once you set you rmind ot it there is nothing you cannot accomplish.

There’s an often cited example of personal finance that revolves around the issue of a $4 latte. The typical theory is that if one was to stop buying a daily latte, and instead invest the money, they would be rich. The math and the logic behind that argument is generally hard to refute, but as it is so often with life, the “right” choice is not always the best choice.

While I am in pursuit of financial freedom, I am attempting to rearrange how I think and view money. I have already begun to prioritize, address my ignorance and my fears, and determine for myself what kind of money I want. Along that path I have begun to realize one of the purposes that money serves. For me, money opens up the possibility of experiences.

This issue arose just yesterday as some friends and I went on a cafe crawl across Vancouver. We started at my apartment, where I made breakfast for six people. From there, we went to six different cafes around Vancouver and the North Shore, tasting espresso, taking pictures, and driving around in the drizzling rain. This type of experience is not a cheap one, but I feel as though it is worth the money. Breakfast for six people is not the most efficient way of saving money for a wedding, but it was worth it. It created an experience that I will likely remember and cherish for years to come.

Money in and of itself is worthless. It’s only value is the value that we place on it, in exchange for other things. We give up our time and energy for money. We give up our money for food, a place to sleep, and sometimes, for good experiences. Sometimes an experience is worth the money. Sometimes, a latte is worth four dollars. So sure, if I choose to not buy a $4 latte, I’m four dollars closer to financial freedom, or retirement, or getting out of debt. But when I get there, will I be rich?