10 Habits of People Who Are Debt Free

Being debt free is true freedom. You don’t have to worry about creditors or late fees. You get to live with a peace of mind.

People who live debt free have developed habits that allow them to get out of debt and stay out of debt for good. These are habits worth trying if you are serious about getting out of debt and staying out of debt.

10 Habits of People Who Are Debt Free

1. They pay attention to their money

People who are debt free make sure they know where there money is going. They monitor bank statements, track spending, and make sure everything is accurate. They make sure that they account for all spending.

2. They Take Responsibility

When bills come in, they make sure to handle paying the bills or to dispute bills that are inaccurate instead of tossing the them and scoffing about them.

3. They Live On Less Than They Make

They live within their means. They understand by living on less than they make allows them to save for a rainy day. So the sacrifice is worth it.

4. They Save

All debt free people understand that having a safety net gives you peace of mind, reduces stress, and gives you more cushion to take advantage of opportunities.

5. They Have A Plan In Place

They have gathered their debt, determined the amount to allocate per week, bi-weekly, or per month to their debt, and have determined a set date on when each debt should be paid in full.

6. They Don’t Make Impulsive Purchases

When shopping for any reason, all that is purchased is exactly what was intended to be purchased. There are no purchases made unless it was already pre-meditated.

7. They Use Cash

All people who are debt free understand that they are in debt because they decided to buy on credit. Most of the time the things that were purchased were unnecessary. And buying more things using credit only leads to more debt.

8. They Monitor Their Credit

Checking their credit regularly is understood to be necessary. As debt is paid, credit scores change so staying up to par with their credit score is vital. Monitoring their credit score also allows them to make sure no fraudulent activity has taken place.

9. They Are Proactive

People who are debt free are always looking for more ways to save money. They take the initiative to seek other money saving ideas.

10. They Maintain Habits of Being Debt Free

People who get out of debt, stay out of debt by continuing the implement the habits used to become debt free. Just because they reached their goals to become debt free does not mean they go back to the habits that put them there in the first place. They understand they will be able to do more of the things they enjoy because they now have the freedom to do so.

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