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4 Things You Can Do Once You're Debt-Free

Several times a week, the excitement and anticipation grows in the lobby of Ramsey Solutions. One by one, individuals and families take their turns talking with Dave from a spot on the Debt-Free Stage.

He’ll ask them a few questions. They’ll answer with huge grins. Then, they’ll count it down: “Three, two, one . . . We’re debt-free!”

All the hard work paid off. The second jobs and the budget cuts. The gazelle intensity and the “beans and rice” attitude.

But that’s not all. In fact, that’s not even scratching the surface— because the future is wide open for debt-free people! What’s possible?

Here are four ideas for what you can do when you’re debt-free!

1. Focus on the Future

Without the weight of debt, you can breathe again. You can start thinking about your future and your family’s future.

In The Legacy Journey, Dave calls it moving from Now to Then to Us to Them. Now completely focuses on getting out of the present mess, while Then lifts your head and encourages you to dream a bit. Us secures your family for years to come, and Them frees you to be God’s hands and feet in your community and around the world.

None of that’s really possible when you’re chained to debt.

2. Give Generously

When you are a slave to the lender, you can’t see past the stack of bills on the kitchen table. There is no way you can pay the electric bill for the single mom at church. You rarely get the chance to eat out, so you can’t give your server the best tip. And you are living paycheck to paycheck, so an inspired retirement never crosses your mind.

When you’re debt-free, you actually have some margin for life. You get to discover firsthand what Dave means when he says giving is the most fun you can have with money—not to mention your time and talents.

3. Follow Your Passions

When you’re living in debt, you’re not just financially poor. You’re also time poor. That’s because you’re spending so much time and energy just trying to make ends meet.

But debt-free people have more time and money. They can pursue things that really matter to them. Whether it’s a hobby, a ministry or a bucket-list dream, being debt-free can move it from “wannabe” to “gonna be.”

4. Inspire Hope in Others

All around you, people are struggling with the same issues you used to face. They need the inspiration your story can provide. It would mean so much to them to know that someone else has been where they are—and lived to tell about it.

One great way to inspire that kind of hope is to coordinate a Financial Peace University (FPU) class. More than 2.5 million people have experienced FPU over the last 20 years. They’ve learned that living and giving “like no one else” isn’t just a catchy slogan. They know how it can transform lives and change family trees.

God is using Financial Peace University to make a difference in the world—and you could be a part of the fun by coordinating or joining an in-person group today.

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Ramsey Solutions

About the author


Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.

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