A few days ago, I found a post that had some amazing motivational debt free quotes. I immediately decided to find some quotes to share with my readers.

The quotes are from politicians, ministers of religion, philosophers, etc. It is my hope that these quotes will go a long way in motivating towards the goal of a debt free life.

Because of easy access to debt in the western world, a lot of people are now deep in debt. We have access for finance for anything, from cars, chairs, appliances, etc.

We sometimes take up new debt unnecessarily when we can easily pay by cash.

I read somewhere that American household consumers owe about 13 trillion dollars and a sizable number are struggling to repay their debt. If this situation continues, we could end up with another financial crisis soon.

The reality is that easy access to debt has caused many of us to live a life we cannot afford.

It should be the goal of anyone to avoid debt and where we have a debt to seek to clear it as soon as possible.

When you are employed and earning money, it easy to forget that you have debt. It is only when you lose your job, and the creditors are calling that you realize that you had borrowed too much.

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91 Debt Free Quotes

Motivational Debt Free Quotes

Below are some of the debt free quotes that I have managed to find for you all.

  1. “Never spend your money before you have earned it.” – Thomas Jefferson, 3rd President.

Unfortunately, that is what we all do when we take out our credit cards to pay for things. Unless of course we intend to clear the balance before the end of the month and in that way avoid incurring interest.

I would urge anyone who can listen to avoid debt if possible. Only incur debts to gets assets that will increase in value such as real estate.

Otherwise if you need a new television set, save some money and buy it cash. It makes no sense to get finance for such things that can wait.

2. “Debt leverages the future and obligates us to submit to its demands from our position of financial weakness” – Sabbath School Lesson.

This is really the main problem with debt in that you are kind of mortgaging your future. Actually in many case one may continue paying for something that is no longer in use. That is the craziness of some debts. It is much better to save for some purchases than get finance.

3. “There must be strict regard to economy or a heavy debt will be incurred. Keep within bounds. Shun the incurring of debt as you would shun leprosy.”—Ellen G. White, Counsels on Stewardship, p. 272

Long time ago people thought long and hard before incurring debt and therefore not many people were deeply in debt as is the case now. Nowadays with ease of finance, millions of people are now “slaves” to lenders who can in the event of default snatch your assets.

4.  ‘We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much.’ – Ronald Reagan.

The issue of debt is not just a problem for you and me but for the state too. Countries such as the United States have debt that is higher than their annual GDP. That would easily mess up the economy of a developing nation. America is however lucky to have the US dollar which is a currency of choice in international trade.

5. “To contract new debts is not the way to pay old ones.” – George Washington, 1st President of USA.

Just as it is not wise for the state to incur debt to pay off debt so is true of you and me. If you have too much debt it is much better to renegotiate your repayments than to incur further debt. You will be surprised that there are so many avenues available if you are struggling to make repayments. Another way would be to go for a debt consolidation arrangement allowing you to treat your debts as one.

6. “Citizens should practically bear in mind that towards the payment of debts there must be revenue; that to have revenue there must be taxes; that no taxes can be devised which are not more or less inconvenient and unpleasant.” – George Washington.

This is definitely the best solution for settling debts, the government needs to raise revenues and use those revenues to pay the debts. Printing more money to pay debts is not the wisest thing to do for a government. It can lead to hyper inflation like was the case of countries such as Zimbabwe.

7. “As an individual who undertakes to live by borrowing, soon finds his original means devoured by interest, and next to no one left to borrow from – so it must be with a government.” – Abraham Lincoln, 1843.

Unfortunately that is not the case with the government as there always lenders willing to lend it money. As a result politicians continue to spend with abandon.

8. “The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts, and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power.” – Abraham Lincoln

9. “Money won’t create success. The freedom to make it will” – Nelson Mandela.

Nelson Mandela :  judge me by how many times I fell down and got back up again." - debt free quotes
Nelson Mandela

10. “Do not judge me by my successes, judge me by how many times I fell down and got back up again.” – Nelson Mandela

11. “Debt is the slavery of the free.” – Publilius Syrus.

The sad truth is that most of us have been enslaved by debt. And we need to find a way to be debt free. Only then can we find financial freedom.

Related Post: Fear Of Spending Money

12. “What God may have enabled me to do is but a repayment of debt, and he who repays a debt deserves no praise.” – Mahatma Gandhi.

Repaying a debt is what any one who borrows money has to do and deserves no praise indeed.

13. “Debt is the worst poverty.” Thomas Fuller.

There is nothing good about being heavily indebted. It will eventually lead to poverty indeed as you become overwhelmed by repayments. It happened to me and it can happen to you too.

14. “After climbing a great hill, one only finds that there are many more hills to climb” – Nelson Mandela.

That is the reality of life on this planet called earth. You overcome one thing and you see that there are still obstacles in other areas that need to be overcome too. We just have to keep on fighting until we leave this world.

15. “There is no passion to be found playing small. In settling for a life that is less than the one you are capable of living” – Nelson Mandela.

We always have to aim high and being debt free should be the aim for everyone. We need to break free from debts and be at peace. Nooone can be at peace while owing money to others.

16. ” Happiness lies not in the mere possession of money. It lies in the joy of achievement, in the thrill of creative effort.” – Franklin D Roosevelt.

Money is not everything. There are other important things in life.

17. “The more you learn, the more you earn.” – Warren Buffett.

To be debt-free it may require you sometimes to find a way to earn more money which you can use to repay your debts. You can for instance learn how to start a WordPress blog on Bluehost and make a bit of money on the side.

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18. “No holiday should manipulate you to the point where you’re going into debt just to show someone you love them.” Jim Carrey.

If someone really loves you then they should understand if you are broke and not pressure you to go into debt to show your love. Love should be understanding.

19. “The sum which two married people owe to one another defies calculation. It is an infinite debt, which can only be discharged through eternity.” – Johann Wolfgang von Goethe.

We really owe our spouse a lot in terms of the love and care they lavish upon us. The debt we owe to each other is indeed incaculable. And I believe that there is no way we can be debt free when it comes to this debt.

20. “Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.” – Johann Wolfgang von Goethe.

This quote is amazingly true for me and I would imagine it is the same with you the reader. We spend our money without any thought on pay day and a few days later until the money is near the end. This is when we wake up from our slumber.

21. “A promise made is a debt unpaid.” – Robert William Service.

Once you make a promise you have to keep it. It is indeed like a debt unpaid.

22. “You must gain control over your money or the lack of it will forever control you.” Dave Ramsey.

This is why we are all working towards being debt free so that we can gain control over our money. Otherwise as Dave Ramsey points out lack of it or poverty will control us.

23. “A hundred load of worry will not pay an ounce of debt.” – George Herbert.

Worry won’t pay our debts. We are better off formulating plans and taking action to pay our debts.

24. “Everyone can rise above their circumstances and achieve success if they are dedicated to and passionate about what they do.” – Nelson Mandela.

This is the right message for anyone struggling to free themselves from debt. We can achieve this goal if we are dedicated and passionate about it.

25. “May your choices reflect your hopes, not your fears.” – Nelson Mandela.

We need to be hopeful in our struggle to be debt free. Fear won’t help us at all.

26. ” I just wanted to make a million dollars. But I couldn’t sing and I couldn’t play ball, so I said to my mother, ‘How am I going to make a million dollars?’ And she said to me, ‘Son, if you believe you can do it, you will.'” – Chris Gardner.

Chris Gardner’s mum was right, if you believe you can do it, you will. If you want to get rid of your debts you will be able to if you truly believe it. It starts in the mind befor it is actualised.

27. “Investing is important, but get debt-free first. That’s what frees up your income so you can win.” Dave Ramsey.

It only make sense to sort out your debts first before you start investing. I am thinking her of credit card debt which on average has higher interest rates which can easily wipe out any capitial appreciation for stocks.

28. “Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey.

If you are swimming in debts then starting to live on less can help you start dismantling your debts.

29. “Success doesn’t come from what you do occasionally. It comes from what you do consistently.” Marie Forleo.

If you are to be successful in life including freeing yourself from debts you need to take consistent actions.

30. “The rich rule over the poor, and the borrower is servant to the lender.” – Proverbs 22:7.

It is what it is. The rich have always ruled the poor. You cannot let yourself become enslaved because of debts.

31. “A healthy and debt free living person is the richest and the happiest.” Sushmitha Maddula.

I can say from personal experience that there is nothing as exciting as being debt free.

32. “Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt.” – Henrik Ibsen.

Once you start borrowing you will find out that your freedom soon vanishes.

33. “You still need to save but being debt-free in retirement is and should be a goal.” – Michelle Singletary.

34. “Never spend your money before you have earned it.” – Thomas Jefferson.

35. “If you have debt, you have to worry about it. I would challenge each of you to try to be debt-free.” – S Truett Cathy.

36. “The only man who sticks closer to you in adversity than a friend is a creditor.” – Unknown.

37. “Many more people could ride out the storm-tossed waves in their economic lives if they had their year’s supply of food…and were debt-free. Today we find that many have followed this counsel in reverse: they have at least a year’s supply of debt and are food-free.” – President Thomas S. Monson.

38. “I have two amazing things in my life: I’m pain free and I’m debt-free.” – Stephen King.

39. “We make a living by what we get. We make a life by what we give.” – Winston Churchill.

Sir Winston Churchill -  "We make a living by what we get. We make a life by what we give." - debt free quotes post
Sir Winston Churchill

40. “They who are of the opinion that money will do everything may very well be suspected to do everything for money.” – George Savile.

41. “If you make financial sacrifices now, you will be set up for success later.” – Rachel Cruze.

42. “Modern slaves are not in chains, they are in debt.” – Anonymous.

43. “In this world, it is not what we take up, but what we give up, that makes us rich.” – Henry Ward Beecher.

44. “Have you ever thought about the fact that when you are in debt, you are a slave to the person you owe the debt to?” – Lauren Greutman.

45. “A credit card allows you transcend time. For it allows you to put off until tomorrow what you bought today, while you are still paying what you bought yesterday.” Robert Morrissette.

46. “Better to go to bed hungry than to wake up in debt.” – Proverb.

47. “Never give up. Today is hard, tomorrow is worse, but the day after tomorrow will be sunshine.” Jack Ma.

48. “Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.” – Earl Nightingale.

49. “The journey of a thousand miles must begin with a single step.” – Lao Tzu.

50. “Time is your friend; impulse is your enemy.” – John Bugle.

51. “The past is already in debt to the mismanaged present. And besides, contrary to what you may have heard or learned, the past is not done and it is not over, it’s still in process, which is another way of saying that when it’s critiqued, analyzed, it yields new information about itself.” – Toni Morrison

52. “A promise is considered as a debt, the liability to pay it back depends on one’s morals.” – Imam Ali.

53. “Start where you are, use what you have, and do what you can.” – Arthur Ashe.

54. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch.

55. “No one is useless in this life that lightens the burdens of another.” – Charles Dickens.

56. “It’s not your salary that makes you rich, it’s your spending habits.” – Charles A Jaffe.

57. “Motivation is what gets you started. Habit is what keeps you going.” – Jim Ryun.

58. “The simple fact that is hard to learn is that the time to save money is when you have some.” – Joe Moore.

59. “Beware of little expenses; a small leak will sink a great ship.” – Benjamin Franklin.

60. “Worrying is like paying debt you don’t owe.” – Mark Twain.

Napoleon Hill,- "The starting point of all achievement is desire." - debt free quotes.
Napoleon Hill

61. “The starting point of all achievement is desire.” – Napoleon Hill.

62. “An example of good debt is the debt on the apartment houses I own. That debt is good only as long as there are tenants to pay my mortgages. If tenants stop paying their rent, my good debt turns into bad debt.” – Robert Kiyosaki.

63. “Don’t stay in bed, unless you can make money in bed.” George Burns.

64. “I invested all my money in debt.” – Hamish Linklater.

65. “A budget is telling your money where to go instead of wondering where it went.” – Dave Ramsey.

66. “Things may not be perfect, but work hard enough and it’ll pay off in the end.” Boss Babe.

67. “No man is rich enough to buy back his past.” – Oscar Wilde.

68. “The most important thing to do if you find yourself in a hole is to stop digging.” Warren Buffett.

69. “When you have exhausted all possibilities, remember this – you haven’t.” – Thomas Edison.

70. “Success is walking from failure to failure with no loss of enthusiasm.” – Winston Churchill.

71. “Rather go to bed without dinner than to rise in debt.” – Benjamin Franklin.

72. “Money is a tool. Used properly, it makes something beautiful; Used wrong it makes a mess.” – Bradley Vinson.

73. “In a world awash in debt, power shifts to creditors.” – Fareed Zakaria.

75. “Everyone wants to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” – Oprah Winfrey.

76. “Become so financially secure that you forget that it’s payday.” – Unknown.

77. “One day, in retrospect, the years of struggle will strike you as the most beautiful.” – Sigmund Freud.

78. “You must do the things you think you cannot do.” – Eleanor Roosevelt.

79. “Balancing your money is the key to having enough.” – Elizabeth Warren.

80. “The only thing people hate more than losing money is the person who lost it for them.” – Unknown.

81. “Never never give up.” – Winston Churchill.

82. “Money can’t buy friends, but it can get you a better class of enemy.” – Leo Rosten.

83. “Money doesn’t change you – it reveals who you are when you no longer have to be nice.” – Unknown author.

84. “Debt is a prolific mother of folly and of crime.” – Benjamin Disraeli.

86. “Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins.

87. “Every accomplishment starts with the decision to try.” – Zero Dean.

88. “Starting strong is good. Finishing strong is epic.” – Robin Sharma.

89. “Money is flat and was meant to be piled up.” – Scottish proverb.

90. “A business that makes nothing but money is a poor business.” – Henry Ford.

91. “Without a struggle, there can be no progress.” – Frederick Douglass.

I hope you have learned a thing or two from these motivational debt free quotes. There are few things in life that are as exciting as freeing yourself from the bondage of debt. Whether that debt is from credit card debt or normal debts matters less as there is no benefit from being steeped deep in debts. It only brings stress.