I PAID OFF MY CAR IN 3YEARS | CAR LOAN DONE | PERSONAL FINANCE
Being debt-free offers numerous advantages that can significantly improve one’s financial health and overall well-being. Here are three important reasons to strive for a debt-free life:
☀️Financial Freedom and Flexibility
Being debt-free provides a sense of financial freedom. Without the burden of debt repayments, you have greater flexibility in how you manage and allocate your income. This freedom allows you to:
-Save and Invest: More of your money can be directed towards savings and investments, which can grow over time and provide financial security for the future.
-Emergency Preparedness: Without debt, you can build a robust emergency fund, ensuring you’re prepared for unexpected expenses or financial setbacks.
-Life Choices: Financial freedom opens up opportunities to make life choices based on your desires and goals rather than financial constraints, such as changing careers, starting a business, or traveling.
☀️Reduced Stress and Improved Mental Health
Debt can be a significant source of stress and anxiety. The constant pressure of managing debt payments and worrying about financial stability can take a toll on your mental health. Being debt-free can:
-Decrease Stress: Eliminating debt removes a major source of financial stress, leading to improved mental well-being and peace of mind.
-Improve Relationships: Financial stress can strain personal relationships. Without debt, you can focus on strengthening relationships rather than arguing about money.
-Enhance Quality of Life: With less financial worry, you can enjoy a better quality of life, engage in activities you love, and maintain a healthier lifestyle.
☀️Increase Opportunities for Wealth Building
Without the burden of debt, you can focus on building wealth and securing your financial future. Being debt-free allows you to:
-Accumulate Wealth: Money that would have gone towards debt repayments can be invested in assets that appreciate over time, such as stocks, real estate, or retirement accounts.
-Take Advantage of Opportunities: With a strong financial position, you can seize investment opportunities that arise, potentially increasing your wealth further.
-Financial Independence: Over time, being debt-free and investing wisely can lead to financial independence, where you have enough assets to support your lifestyle without relying on employment income.
In summary, being debt-free enhances financial freedom and flexibility, reduces stress and improves mental health, and increases opportunities for wealth building, all contributing to a more secure and fulfilling life.
✨ Learn how to simply track your progress with a few clicks and say goodbye to debt.
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Пікірлер: 154
"I just don't want financial stress" ✅
@Scorpiehibiscus
Ай бұрын
That first statement touched my soul
@kass2086
Ай бұрын
👏👏
2023 I paid n closed my Nedbank credit card , what a relief I had
@tshenolomolokwane
2 ай бұрын
Also planning to close mine, hopefully even close the account or downgrade to a cheaper one. It's too much.
@VeryBerry481
2 ай бұрын
Hi there 😊 Please could you share your tips.
The interest rate has increased eight times since March of last year, to 5% now. My retirement fund has suffered greatly over the past few years due to inflation at 7% and mortgage rates at over 7.5%, so I'm wondering how older people retire and survive in such an unsteady economy. Obviously, now is not the time for me to play the long term game.
@OscarOwenn
Ай бұрын
I completely agree. As someone who recently retired, I had very little in retirement funds compared to my portfolio balance over the previous three years, no debt, and approximately 1.2 million in outside retirement accounts. Actually, one can only neglect rather than deny the importance of the invt-advisor. just need to conduct research to identify a reliable one.
@ms_christinejones
Ай бұрын
The important thing is to manage your money, not how much you save. It still comes down to income vs. expenses whether you work for a living or invest, so sure, you might check into financial consultants for a plan that works for you.
@bossqueen_lala3098
Ай бұрын
That's really interesting. I have a shrinking portfolio; how can I get in touch with the invt-advisor that is helping you?
@OscarOwenn
Ай бұрын
"Leah Foster Alderman."
@OscarOwenn
Ай бұрын
for information on investing, insurance, ensuring retirement is adequately funded, and exploring strategies to provide a volatility buffer for investment risk, you'll probably get more information if you do an internet search for her
Congratulations Noma! sooooo proud of you!!!!!! I love how you've put God at the centre of your everything. He's definitely got you
Congratulations sis can’t wait for the day when i finally pay off my car..
@NomazDiary
Ай бұрын
You got this!
Well done Noma..yeahhh thats so exciting. I also paid off my personal loan thanks to you. One credit card to go. Whoop whoop.
@NomazDiary
Ай бұрын
Sooo happy for you 💛🥳
@Phyllisjordan2006
Ай бұрын
@@NomazDiary thank you 😊
Congratulations on paying off your car loan. 👏👏I resonate with that feeling of relieve. You feel lighter. 😊
Being debt free is such a relief 😮💨 nkare you starting life afresh tjoo. Congratulations 🥳
@sufi8903
2 ай бұрын
Eish, can't wait 🙏🏿
Came from TikTok excited about the “paying off my car” caption….. but ended up soaking in all the wisdom (Biblically), you shared. Thanks ❤️🙏🏾 such a timely video. And congrats 🙌🏾 🎉
@NomazDiary
Ай бұрын
🌷🙏🏽
Congratulations Noma, i paid mine off and closed it this past Tuesday, i miss it but im better off without it as I had no self control, but im working on this.
I can't wait to pay off my car loan!! still have a long way to go but I have faith that it will be done.
Close it mama! I'm so glad I found this video. I just finished my fasting and prayer and I was focusing on financial breakthrough and wisdom: the one thing that has been popping up is knowledge, and studying- learning about credit and finances etc. I'm definitely going to read the book of Proverbs now. God works is mysterious and wonderful ways. I'm encouraged and blessed. I watched Mpumi Ledwaba's segment at NEXT and one thing she said was God works in storms
Congradulations🎉. You walk the talk sis
Wow congratulations sisi, I am inspired, I dnt regret the Day I bumped into your video on KZread I hit the like button nd followed immediately; from that day “last year December “ I never looked back i started my financial freedom journey. Now I am happy looking at my finances 😊. Keep up God is great nd all the best for your next projects.
Well done Norma, I know the feeling of paying off the car before the actual time! Congratulations! Close that credit card and cut it into pieces....you've got this❤
Close the Nedbank credit card. You don't need it. Those little service fee amounts add up to something. Congrats on paying off your car 🥳. It's such a great feeling!
I love your attitude Noma and I'll start marinading myself in God's word. Be blessed and may your come out better from what you are going through.
Please, please please don't close your credit card/s, it'll take a huge knock on your credit record
Look at God🙌🏾🙌🏾 Congratulations Noma🎉🎉🎉
Congratulations Noma 🎉🎉🎉this is such a big motivation to do better financially. You constantly show me that It is definitely possible.
Congratulations, Noma. 🎉🎉I know feeling and I'm so happy for you
Hi Noma, u just gained a new subie. Regarding that credit card. I would say use it to buy an asset that can make u money, be it long term or short term. If u don't have anything like that to purchase. Then it's ok to close it. 🎉 all the best on this journey, and congratulations on coming this far. You are doing well.❤
Yey!!! Noma!!!👏🏽👏🏽👏🏽you’re my inspiration dear, one day il pet off my credit card loan
Congrats on paying your car. U did well mommy. 🎉
Well done Noma!!! so proud of you!
With the credit card, if you are married, you only need 1 credit card. Either keep yours if your husband does not have 1 or close yours if he has 1. My 2 cents
Yooooo Noma🎉🎉🎉🎉🎉 Congratulations 🎉🎉🎉🎉🎉🎉 you're truly an inspiration 🎉🎉🎉🎉🎉🎉
Congratulations Noma 🎉🎉 I'm so happy for you
Congratulations Noma. I'm so proud of you. It's truly an amazing feeling. Thinking and praying for you ❤️❤️
Congratulations sisi.can't wait to finish my car as well.but ay still early for me😢
❤❤❤❤❤ Congratulations sisi and thank you for sharing the word of the Lord
Congratulations hle you've just gained a new subbie I love the fact that you're a christian
@NomazDiary
Ай бұрын
Thank you so much and welcome 🤗🌻
I will never close my CC because it assists with car emergencies. Recently I just needed to buy a battery and tyre which I will pay within 3 months. The thoughts of those monthly card fees is devastating.
@kodiwilliams4505
Ай бұрын
Open a savings account and put a certain amount in that savings each pay period so whenever an emergency comes or car trouble comes up you’ll have money saved up and only use it for emergency
Congratulations Noma. 1st time seeing your video and I already subscribed. I love you already. Also on a paying off debt journey it has been so difficult but I know it will be worth it in the end.
Well done! Nomz! 🎉 close the Nedbank CC theres no need to have 2 seem like the line of credit on the other one is More than enough for most. Try pay that off too and avoid using it too heavily in the future
Temporary sacrificea for permanent solutions😊congratulations Noma..So inspirational 🎊 👏
@NomazDiary
Ай бұрын
Thank you so much 😊
Well done Noma!!! Thank you so much for documenting your journey and sharing it with because it’s very encouraging and shows us that it’s possible because we’ve witnessed and been part of the journey! Would you ever consider also sharing about investments?
Receive your flowers 💐💐💐 Keep up the momentum
Congratulations Noma,I'm happy for your achievement ❤
my sister, your opening words spoke to me.
I needed this message of encouragement, thank you for sharing your story ❤ Congratulations on paying of your car 🎉
Congratulations Noma I am so happy for you. ❤
Congratulations Noma! This is a huge milestone 🎉👏
Congratulations 🎉!!! That’s wonderful, thank you for sharing.
Congratulations sisi, I am inspired 🎉🎉🎉🎉🎉
Congratulations Noma🎉🎉🎉Super proud of you
Blessings!!!!!!! I believe GOD will work everything out ❤
Well done and congratulations so proud of you 👏👏
Well done Noma❤
Congratulations Noma!!❤
Well done Noma🎉🎉🎉
Wow🎉🎉🎉🎉🎉... Congrats Noma... You are such an inspiration
Congratulations Noma, so happy for you 🎉❤️
Wow Congrats Noma!!! ❤❤❤
Congratulations❤ Its a blessing to be financially aligned with your partner. Love this❤
Congrats Noma.,very inspirational journey.
Hoop Hoop Hoop 🎉🎉 Discipline does pay off!! 🙂🙂👌👌
Proud of you hey. Debt free life is the best life 🎉
Congrats Noma, thanks for sharing and motivating us!
Hi Noma any advice on how to pay off a home loan quicker ? Love your videos
Congratulations Noma🎉❤Too meeting many more of your goals 🥰
You deserve this Noma ! You truly did CONGRATS A MILL!!!!!!
Congratulations sisi🎉🎉🎉🎉
Congratulations 🙌 🎉my darling, you are such an inspiration to most of us. Its beautiful 😍 to see one of us reaching her debt goals We will pray 🙏 for ur work challenges.
Congratulations 🎉🎊 just close it off, relying on debt can be stressful
Congratulations Noma 🎊 🎉
Congratulations Noma🎉🎉🎉
Thank you so very much Noma ,this is enlightening ❤
Woooowww 🎉congratulations Noma🎉🎉🎉
Congratulations noma you are truly inspiration
I love how you lift God because he is our source. He blessed you with wisdom
Super congratulations Noma🎉
Hyo sisi congratulations, we'll done, with regards to credit card maybe reduce the credit limit on it. Thank you 💐
Oh how wonderful. Congratulation! I have been pondering on doing this for months now. How did you navigate the balloon balance?
Congratulations! It hurt my soul to throw 20k of my savings and paid off my car. but the relief and freedom I felt after this hard decision was worth it. Now I'm thinking whether to sell my car (worth 24k) and get a cheaper one and save the rest. I really regretted buying a new car, it was a bad financial decision.
🎉🎉🎉🎉🎉woow congratulations Noma this is so motivating
@NomazDiary
Ай бұрын
Thank you so much 🤗
Pay extra on your credit cards and have the bank owe you per say. Downside is they'll increase your limit. But the payment is good for your credit score and good for your financial discipline. All the best.
Congratulations on paying off another debt Noma and thank you for sharing how you did it how to start the journey. Have been following your content for a year now, haven't been able to start with the savings challenges but I know when the time is right' the lord will make it happen '
Congratulations 🎉🎉🎉🎉 so proud of you.
Well done to you!!
Paid off my car full contract period of 6 years and now I'm fighting the balloon payment and ask me where the car is😢😢😢broke down had so many issues
@noxible
2 ай бұрын
😢😢😢 I'm so sorry
Congratulations noma 🎉
Thoroughly enjoyed this
I needed this thank you for sharing your wisdom ❤
@NomazDiary
18 күн бұрын
You are so welcome 🙏🏽
🎉 congratulations I did the same thing back in 2023,I paid my car in 3 years
I'm super proud of you 👏
Noma!🥹 Congratulations girl! In all honesty you and your husband are such a team!🥺
Use your credit card for points since you are very responsible with your cards. So transfer your food and fuel to your credit card and use it like tht
Congratulations 🎉🎉🎉on paying off your car!
Well done dear🎉🎉
what car was it?
Close that credit card Ma’am! As long as you have emergency funds you’ll be good
Congratulations 🎉❤
Congratulations 🎉 Hard work does really pay off even if it seems never ending. This is so motivating. I would suggest closing Nedbank CC. Keep the FNB CC but keep it to only R5000 limit when you get there
@katlegoratshidi5070
2 ай бұрын
i agree with this
@NomazDiary
Ай бұрын
Thanks for the tips!
Congratulations Noma🎉🎉, this is incredible. I don't know whether this is the place to ask, but for your wallets in your store, are they A6 or A7? Thank you.
@NomazDiary
Ай бұрын
A6 🥰🌷
@nthabiseng7056
Ай бұрын
@@NomazDiary Thank you🌺
Congratulations ma'am!!!!
You really are an inspiration, I've decided to pay off my debts end of July, I'm in my early 20's,i sometimes hear people saying if you don't have any debt at all your credit score will be low, and I won't qualify for home loan one day, as I want my own place, I'm really confused, Can I build my credy score without debts? and congratulations noma❤❤ I'm really inspired.
@abigailshongwe1849
2 ай бұрын
Hey girl, also in my 20s and hate debt. So what was suggested to me was to open a credit card with a very low limit like 2000 if not 1k. And then every month I top up that money with money from my debit account so basically I'll be using my actual money but inside my credit card so it'll appear sengathi I'm still paying off debt and will boost my credit score. Still gonna test this out soon but heard this works to boost credit score. Obviously I'll try to be careful with the credit card but if you are disciplined I think it will work
@Millibabe
2 ай бұрын
@@abigailshongwe1849mtase thank you, I think I'm gonna do that as well ❤️❤️❤️
Hi Noma congratulations ❤ Can I have one on one with you
Thank you so much for the comforting word, you have inspired a lot of us throughout our own little journey of financial freedom, you have changed my finances in a way you will never imagine darling, we just thank God for giving you so much of wisdom that you share with us,we really appreciate you & look forward to your videos❤❤😊
@NomazDiary
Ай бұрын
Thank you so much ☺️🌷
Congratulations 🎊 👏