“I have had a taste of it myself, and it’s mighty bitter. A debt is a debt, whether it’s margins or mortgages; and debts are all the same, no matter how you try to camouflage ’em. You never get much out of ’em except trouble. On the farm or in Wall Street, if you use the other fellow’s money, it costs you a lot more than it’s worth.” – Sue Sanders (Our Common Herd, 1940)

I’ve been in debt, a considerable amount of debt. It made me very, very uncomfortable. Before I was worth even a plugged nickel, I had a negative net worth of almost a million bucks. It was terrible to know that at any moment I could lose my house, our cars … everything. I worked very hard to get rid of that debt, and when it was gone, I kept working until I paid off my mortgage, paid off my cars, and repaid every dollar I’d ever borrowed from anyone. When I was finally completely debt-free, I felt great — light, free, almost bubbling with happiness.

I’ve grown used to debt-free living now — and it still feels good.

I never have to worry about losing my house, because I own it outright. My cars will never be repossessed, because they are fully paid. I have no bank loans. I have no credit-card balances. What I have is owned — and can’t be taken from me. If that isn’t the essence of financial freedom, I don’t know what is.

How do you feel about debt? Some people like it. I once had a friend who aspired to die in debt. His philosophy: “If I were given a choice to go to my grave owing a million bucks or having a million, I’d choose owing it — because it’s a lot easier to borrow money than to earn it. And when you are dead, what do you care how much money you owe?”

I liked his attitude but never shared his perspective. Having debt is mentally draining and financially expensive. It makes you subordinate to others, subject to their whims, unable to tell your boss to “shove it,” and incapable of having a good night’s sleep. And it’s also completely unnecessary.

You don’t need to be in debt to live the good life. You need to borrow money for a house, but that’s about it. Going into debt for cars and clothing and fun is just plain stupid. I’ve talked a lot about how to live like a billionaire on an ordinary budget. Check out those messages. I’ve also — since realizing debt is a problem for many ETR readers — asked my team at ETR to work on a program to help indebted readers get clean and establish wealth. This won’t be ready for a while — maybe six months or a year. In the meantime, I’ve come across a program sold by Nightingale-Conant that I can readily endorse. It’s called “Transforming Debt Into Wealth: A Proven System for Real Financial Independence.”

In “Transforming Debt Into Wealth,” debt expert John Cummuta lays out a program on seven audiocassettes (or CDs) for getting out of debt in five to seven years and retiring a “debt-free millionaire.”

You will learn:

* Why debt is usually bad and why you should get rid of it

* What kinds of debt are good. (Very important!)

* How to save thousands when buying insurance.

* How to stop car dealers from picking your pockets.

* Why it can actually be a BAD idea to save a little money each month.

* Why you won’t worry about your credit rating.

* Why mortgage-interest deductibility is the “tax-shelter” lie.

* How to calculate exactly when you’ll be completely out of debt and when you’ll be able to retire.

This program is a good start for anyone who wants to dig himself out of a pile of debt and start building wealth. I’ll supplement it with messages and maybe a booklet or two that will be published in future months.

Losing debt is like losing weight — the best time to start is today. If you have too much debt, don’t put off making this positive change in your life. Invest in this program and see if it can help you get debt free. As with all the products we recommend, it is fully guaranteed.

If you are unsatisfied with it for any reason, you can get your money back — pronto, no questions asked.