Having control of your money is important, but living a debt free lifestyle is often very different. People who are debt free often live by slightly different rules, they make decisions based on what they know as fact and can walk away from what seems like a great bargain, knowing they have saved money and not spending money on something they don’t need. If you are trying to live a debt free lifestyle or are trying to become debt free, adopting some of the habits of people who are debt free might help you to kick your finances into better shape.
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Habits Of People Who Are Debt Free
Living a debt free lifestyle isn’t always easy, there are constant pressures all around trying to offer you credit at every point, with some great deal attached. Avoiding these offers and learning to say no, is very difficult with the potential for offers and discounts, however, there is always a catch and for me it is the concept of owing money to a credit company that would scare me!
- Budgeting is the key to people who live debt free lives; they know the money they have coming in, they know the bills and expenses they need to pay. They give all their money a task they must complete; it is that simple. If you need more information about budgeting then check out this article!
- It is important that you learn to spend less than you earn, this does seem simple but if you are putting big-ticket items on credit, it means you don’t have the money for them and that is simply spending more than you earn!
- The most difficult task when it comes to living a debt free lifestyle is not listening to peer pressure. You know there is always someone who thinks that it is OK to spend money, pushing you with the line ‘you deserve a treat’! This is not a good environment for living a debt free lifestyle or for people who are debt free.
- It might seem odd, but people who live a debt free life understand the value of money. Often in today’s society, we use plastic to pay for goods and this means we don’t handle money and the true meaning of what that money stands for, is gone.
- People who are debt free tend to use cash; this gives them the control over their money and avoids the temptation to overspend.
- Planning for the unexpected, this might sound vague but it is the best money tip . There is always some unexpected expense and having the funds available can cut the need to borrow money to pay for the unexpected bills that you know will arise.
- Deals that seem too good often are not worth the money, there is often a catch with a deal and being able to walk away isn’t easy, especially if they offer you some credit to pay for the goods too. But being able to walk away from a bargain, when you know you don’t need the item is difficult, but a necessity in living debt free.
- People who are debt free don’t feel the need to impress anyone with the latest gadgets or accessories. The impressive thing here is not having any form of debt. You don’t need to have an array of electronic devices, having what you can afford is the most important point here.
- You need to live within your means and that can mean not being addicted to shopping, you have to learn happiness with what you have and saving for those items which you do want.
- Commitment and dedication to those big-ticket items are necessary because not having credit means if you need something you must save for the item first. This concept is lost when credit is so easy; the idea of saving is becoming more alien like!
- One habit that you will love is living the debt free lifestyle, not having to pay credit companies large sums of money each month from your wages is life changing, you actually become in control of the money that you earn and you are no longer lining the pockets of large credit companies with interest payments.
Why Live A Debt Free Lifestyle
More and more people are choosing to live the debt free lifestyle because it is less stressful and more rewarding. You are not working to pay most of your income to credit companies.
Our homes have the technology, but often they become crowded with more things than we truly need. Often paying for these items on credit and making them more expensive in the end.
We have become a society that needs more and more items to live when in truth this causes us more work, we have to work longer to pay for the privilege of more stuff and then we need to keep our homes clean. With all the items stuffed in our homes, it makes this more difficult, creating more work.
Living without debt is freeing, you have less to clean, often a smaller home, you don’t need to move, as you don’t need to expand your living space. The most important aspect is having the money you earn work for you, to do the things you want. If you are looking for more information on this topic this book is by a great man who knows about budgeting and spending money you can afford!
Therefore, the benefits of living a debt free life are better for your health, with less stress and less worry. Following the habits of people who are debt free might help you to become in control of your finances and cut the stress related to spending more than you can afford.
If you are looking for more articles on this topic head over to the landing page where you will find more articles about budgeting and being debt free.
What is your favourite tip to get debt free?