Buy These Essentials Outright If You Want to Achieve Financial Freedom (MUST READ)


Buy These Essentials Outright If You Want to Achieve Financial Freedom (MUST READ)

Don’t let payment plans hold you back

Reducing your monthly expenses is one of the easiest steps you can take on your journey to financial freedom. After all, the less money you spend on expenses each month, the more you can save and invest.


Nearly every major financial book and advisor emphasizes the importance of reducing debt and monthly payments by buying certain essentials outright. You make a big one-time payment and then you never have to worry about paying on that item again.

The problem with this is many of us don’t think to pay off these items in full when we need them. We’re either blinded by the glitz and glam of a fancy new thing or we don’t even know our options for a one-time payment.

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When it comes to finances, knowledge is power. The more you know about what you can — and can’t — do, the better decisions you can make.


Below I included three essentials I’ve paid off in full so I can avoid monthly payments. For each item, I’ve added how the options I navigated to pay these things off in one shot and where you might even be able to find some deals.

Read also: If you want to be a millionaire you must first fix this 4 things


Paying off your car in full and avoiding monthly car payments is commonly suggested methods in finance books for anyone who wants to achieve financial freedom.

Many of us get so caught up in the glamor of a nice car that we sign away hundreds of dollars every month for several years.

But saving enough money to buy your car outright, it’ll save you money in the long run. You won’t have to worry about interest rates on your auto loan, missing a payment or coming up with enough money every month.

#Buy used

I paid off my car in one shot by purchasing a used car. Even now when used car prices are higher than they’ve ever been, used cars that are a few years old are nearly half the price of new cars.

Of course, this would mean that you can’t buy the newest model of your dream car. But from personal experience, the model that’s a few years older isn’t bad at all.

Not having to worry about a monthly auto loan is an amazing feeling that will reduce monthly expenses and help you achieve financial freedom.


I like to pay off my new cellphones the day I get them.

Cellphone carriers constantly try to hook us users on 2-year contracts. I really dislike these contracts. They require monthly payments so by the time you pay the phone off, a new update comes out and it’s obsolete.

Buy new or used

Since a new cellphone isn’t nearly as expensive as a new car, you can opt for a new or used phone. Some websites like Swappa, eBay and Amazon offer pre-owned and brand-new phones at discounted rates with money-back guarantees.

If you really want to save money, buying a slightly used phone can help. It’ll come at a heavily discounted price and might even be in mint condition.


Computers and laptops are nearly essential in today’s society. But what’s the point of paying off a $2,000 new MacBook when you could pay $1,300 for the same MacBook in mint condition?

It’s a $700 savings on the same laptop, except one was lightly used. I used these numbers after looking at listings on Apple’s website and Swappa.

Buy used

Every laptop I’ve ever bought was pre-owned. The money I saved by doing this went a long way in other directions like investments.

Buying used PCs is a great way to reduce waste, save money and achieve financial freedom.

Read also: 12 ways to finding your purpose

Takeaway: Don’t use payment plans

Payment plans were designed to help you buy things you can’t actually afford. The examples I listed above aren’t the only things you can save money for and pay off in one big payment.

If you want to live in an apartment, try saving a year’s worth of rent. That way you can pay off your first year living there and not have to worry about making rent payments while you save for the next year.

Buy annual memberships instead of monthly ones. Some subscriptions services offer discounts if you pay yearly instead of monthly.

The bottom line is if you can’t buy something outright then you most likely shouldn’t be purchasing that item because you can’t afford it. Save up your money and avoid payment plans on your path to financial freedom.


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