Borrowing has been around since the beginning of time. Using someone else’s money to purchase something turns you into a borrower. That debt then, must be repaid.

The reason lenders let you borrow the needed money is because they make a profit from loaning it to you. They charge you interest.

With that in mind, it’s almost always best to pay cash when making a purchase. Interest not paid equals money saved, to be used elsewhere or actually put away and turned into capital.

Most of us, though, are not walking around with enough cash to buy a house, a vehicle or pay for college. That’s when you look to borrow money. We all have opportunities to take out several different types of loans during our financial lives.

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Sometimes we get ourselves into trouble creating more and more debt without realizing we’re getting ourselves in over our heads. Then we start to panic.

Panic is good. It means we’ve identified an issue we’d like to do something about. We might decide to explore the possibilities of eliminating these debt payments from our lives.

If this is you, you’ll discover, creativity can be your key to your financial future. All progress comes about as the result of finding better, cheaper or easier ways to do things.

One of the key functions of a good manager is problem solving. Your ability to deal with problems creatively and is a key determinant of your success as the manager of your life.

In my short lifetime, I’ve come to the conclusion that there is virtually no problem you can’t solve, no obstacle you can’t overcome, if you apply the creative powers that come into your mind.

The good news is that creativity is a skill and a talent that can be learned through practice. With this skill, you can accelerate your desire to become debt free.

Always see yourself as a master problem solver. Look upon every difficulty (financial or otherwise) as an opportunity to develop your creative powers. Always look for the obstacles you can overcome. The more you focus to seek answers, the more creative you’ll become.

Lenny Tumbarello’s popular personal finance book, No Balance Due, contains many ideas designed to inspire you to raise your awareness of the little things that make a big difference in your financial life. It shares stories that’ll help you clarify in your mind, just what you might want to do (or not do) regarding this area of your life.

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