Debt is a sweet poison but it is often introduced as “Debt is a Tool.” That’s a myth, a lie in which people are blindly believing. 

This statement, firstly, may look absurd when everyone is relying on debt for their all needs and wants.

When you tell a lie enough time that it becomes a way of life, is the situation here with the debt.

This article will be an eye-opener for you all; here I will explain the true nature and also talk about to become completely debt-free.

Debt is a pure evil that can break a healthy relationship about which we will talk later. It also makes you physically, mentally, emotionally & financially unhealthy.

Being financially unhealthy, you can’t even secure your future and also you struggle in the present.

No doubt debt fulfils your desires in the present but steals all your happiness in the long run. 

You will see later in this article how debt-free life can be wonderful and how it can make a happy life disaster.

How Does Debt work?


Arun is a nice working person with a family of 5 people (Father, Mother, Himself, Spouse & 1 Kids). He works for a reputed organization with a monthly salary of 20,000/- rupees. 

He has bought a new bike recently on Loan (For 3 years – 3000/- per month) and thought EMI’s are small so he can manage.

Everything is going well, then one day, he thought why not to renovate the home for which he needed some money approx. 1 Lac for home repairing & renovation.

So, he took another loan/Credit (3 years with small EMIs – 4000/- per month), now problem started with his monthly budget.


Every month went with struggles as he has to pay 7000/- per months but his salary was just 20,000/- 

He started compromises, but the mountain of loan which has he borrowed started to haunt him in the night. 

Arun is just an ordinary person, he doesn’t know much about financial management. He was living his life happily before taking this another loan for renovation.

But now he is living with constant fear and worries. Most of you can co-relate with Arun. 

Evil Face of Debt


One day, Arun’s best friend Nitin was upset as it was his daughter birthday but didn’t have money to buy a gift and birthday cake for her.

So, Arun decided to help him and him 2000/- rupees with a promise that he will give it back next month.

Months came went by, his best now started ignoring him. For Arun, Nitin is more than a friend, he a brother like, but he started ignoring him.

The very happy life of Arun now has become a struggle, every month has worries, “He will pay all the bills?” “How to fulfil the demands and needs of his family?” “Why is his best friend talking to him?”


But this was not all, recession in the country started to spread his wings. Layoffs were started over the country. One day this bad news knocks the door of Arun. His boss called him in his cabin and started talking.

“Arun as you know the company is not doing well due to recession in the country” – said the boss

He continued, “Due poor financial conditions we are also started layoffs”

Arun was afraid, his mind was filled with worries for his family, instead of an appraisal he is now going to lose his job, “How he will pay all the EMIs?” “How he will fulfil the basic needs of his family?”

But the boss was constantly talking; he just heard that you are no longer associated with us Arun, so pack your bag.


This was a little story of Arun just to show you all, how debt ruined a happy life of Arun into a nightmare. He started living in constant fears and worries. He lost his best friend because his friend was also financially struggling, the guilt of not paying Arun back the money he landed on his daughter’s birthday.


When he lost his job, due to lack of sufficient emergency funds, which made him unable to save to build an emergency fund.

For Arun, debt is not a tool; instead, it is a pure Evil.

Benefits of Debt Free Life


Let’s take the story of Arun in a different perspective; we will now consider that Arun is a financially literate person and he believes in keeping him financially healthy.

Instead of taking loans, he plans all his expansive and accordingly makes budgets. (How to make your budget – Read – 50/30/20 Budgeting Rule – Problems and its solution)

This habit of planning expenses enable him to save for his expanses, whenever he needs money, it’s there to help for any kind of expanse – whether it’s an emergency expanse or planned expanse.

Now, Arun is stress-free, he has no worries for paying bills or any EMIs. He can live a happy life.

A debt-free life allows you to prepare for any foreseen circumstances.

As Arun plans every expanse, he has no money for a vacation with family, retirement; he has a secure and protected present and a bright future.

If any of his friends needs money, instead of lending money, he gives money and always says, don’t return money to me, just do the help of others when they are in need.

you to live a stress and worries free life.

Due to this behavior, he is spreading positivity; also making a community that helps who are in need.

Instead of taking loans just learn to plan and manage your expenses it will enable you to live a stress and worries free life.

Also, paying in cash, bring you an opportunity to bargain which is not possible if purchase on debt/loan.

When you don’t have loans to pay back and you have planned a financial life, in that case, if you face a layoff, it would not affect you as you have already prepared for any emergency scenarios. 

This is not enough, a debt-free life can give you many more benefits which you will be able to feel and enjoy on your own when you will become debt-free.


Debt is not a tool rather it steals your freedom and makes you a slave to the system. It is a devil in disguise.

Debt not only makes you a slave but also steals your freedom, happiness, family & friend. As you take more loans, the rope started to tighten around your neck. It makes your future in danger and Present a hell.

A debt-free life with financially planned expanses will be a more secure and happier life. Becoming debt-free is not rocket science; you just need a little financial knowledge, discipline, and determination.

You can manage your life by implementing “Principles of Life Management” and become more financially healthier by implementing the “Rules of Budgeting.”

Even if you are in debt, you can be debt-free by just following any of the method – “Debt Snowball” or “Debt Avalanche” To know about becoming debt-free and managing your financials to reach the ultimate goal – Financial freedom read our book – Financial Planning – A Wholly Different Way of Living.

Best of luck for your Debt-free Life….

Deepak Sharma

Hi! I’m Deepak Sharma, a Mechanical Engineering Graduate who finds his passion in blogging with a thought in mind for financial freedom. After working in the industry for almost 3+ years, I find my interest in finance. I started this blog to share my learning with those who shares the same dreams of financial independence and follow my passion.

This Post Has One Comment

  1. Sarthak Sharma

    Nice article

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