Myth: Debt is a part of life
While it is a part of life for most people, it does not need to be. Instead of putting everything on plastic, make cash payments wherever possible. Instead of buying a brand new car at a premium, save money for a year or two and buy a used car in good condition or a buy a used car right then. Remember: A debt-free lifestyle is possible if you are willing to live frugally and stick to a rigorous savings and investment plan.