9 Reasons to Eliminate Your Debt & 1 Great Way to Do It

Last Updated: June 5, 2018

I’m sure we all can agree that eliminating debt makes strong fiscal sense. However, opportunities to completely eliminate your debt rarely come along. And here’s the really nasty thing about debt – it’s kind of like quicksand. You almost never see it coming, and once you’re in it, it can be very difficult to get out. Typically, one of the best ways to get out of debt – and quicksand – is with the help of friends, especially friends like Publishers Clearing House.

At PCH, we know what’s important to you, and that’s just one of the reasons for the $75,000 Eliminate Your Debt giveaway. Are you entering this giveaway? Keep reading for nine reasons you should be entering every day!

9 Reasons to Eliminate Your Debt

  1. Build financial security – all those debt payments could be cash that you set aside for a time when it’s really needed
  2. Treat yourself (without feeling guilty) – paying on debt means you have less money, which could lead to incurring more debt to get the things you want. Paying off your debt puts the money back in your pocket for the things you want.
  3. Reduce your stress level – debt brings stress, and stress can lead to serious health issues. Paying off your debt actually could save your life!
  4. Reduce your bills – the more you owe, the more bills you have to pay. Eliminating your debt – even if it’s piece by piece – will mean fewer bills and no interest charges
  5. Improve your credit score – when your debt is high (especially credit card debt) your credit score nosedives, but eliminating your debt reverses the course and your score could soar
  6. Teach kids about money management – leading by example is a great way for kids to start learning how and why they should avoid getting into debt
  7. Own your assets – when you have a mortgage or an auto loan, you don’t own your home or car – the bank does! Getting rid of those payments means never having to worry that someone may take your things away.
  8. Increase future earnings – taking out a loan or charging something on your card means you’re just borrowing from your future income, which could decrease your standard of living. Make the most of your income by paying off existing debt rather than incurring more.
  9. Get rid of lenders – as long as you have debt, you’ll have lenders telling you when to pay and how much to pay, whereas eliminating your debt puts you in full control of your money.

And there you have it! Nine great ways to take control of your finances and one great giveaway that you should be entering every day if you really want to eliminate your debt in one fell swoop!

Russell S.
PCH Creative