This time, Paul visit Mary again in hopes of learning the fourth and final law of debt-free prosperity. Paul has diligently worked on the first law for several months now, even recruited his family to participate.

With the data he compiled from tracking, Paul was able to use the second law to set target goals. Realizing if he follows the third law, he could achieve his target sooner than later. The end is now in sight and he could hardly wait to cross the finish line.

Mary has something else in mind this time. She sits down with Paul to discuss a serious topic, debt.

Mary reminds Paul that there are millions of families in the world living on less than a few hundred dollars a month while asking Paul if he ever wonders “why most American families who earn as much as you do seem to be struggling financially?” Paul did not have an answer to that question.

Mary goes on to explain that Americans are constantly barraged with commercials and advertisements for credit, even products or services that can be purchased on credit.

As a result, if you want to enjoy a lifestyle free of debt, you have to make the commitment to not take on debt. There is a big difference between those who choose a standard of living that is lower than their income versus those who live at the limit of their “credit-worthiness.”

Those who choose to live at the limits of their credit will always continue to pay interest until they stop paying.

Mary explains that if you do not want to trade off the lifestyle you are living that is financed by credit, then you need to consider increasing your income. Without an increase in your income, it would be more difficult to pay down your debt while sustaining your credit lifestyle.

How we manage the allocation of our resources such as time and money will determine the quality of our future.

This is where Mary and Paul explore how spending in a different way can help you build your way to wealth. If you think about it, you can spend money paying off your debt which will increase your net worth. If you have no debt, and you want to become wealthy, then you can spend or allocate your spending towards income-producing assets.

The rest of this chapter is a demonstration of how you can reduce your debt. I will not cover this here because you can find just about any debt-reduction planner on the Internet. As I mentioned before, just about every personal finance book tends to upsell their products to you.

After all, I want to get you to the fourth law sooner than later.

If you could spend your way to wealth, what would you spend your money on?

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