debt-free lifestyle isn’t as hard as you think. It all comes down to following
a simple but important rule: “Live within your means”.
Here are 4 characteristics of people are living a debt-free lifestyle:
- They Don’t
“Fit The Norm”
credit card is the norm. People have a credit card. Therefore, I must have a
credit card. Yes, and you will also be at risk of falling inside a debt-trap.
cards are one of the most overrated innovations in the world of finance.
“Convenience in a card”. “No need to carry cash”. “Buy now, pay later”. “Pay in
the phrases that entice people to own a credit card. The statements are true.
What the phrases fail to mention is what happens when you abuse your credit
card. They won’t mention the consequences because the companies want you to
abuse their credit card.
don’t own a credit card get the underlying message. While a credit card is a
convenience, it is not necessary. They would rather pay cash for their purchases
if they can afford it.
live debt-free avoid everything and anything that can get them into a
- They Have
Amazing Sense Of Discipline
people create a plan and stick to it. They could be walking past the appliance
section and be blinded by the signs that read: “50% off on all flat screen
Smart TVs – if you use your credit card!” or “Free Espresso Maker for every
$3,000 purchase on your Credit Card – Today Only!!!”
They know a
flat screen Smart TV is not part of their budget plan. They are not fooled by
the marketing copy: “I can get an espresso maker for under $3,000 – so why
spend all that money?”
If you want
to be free from the clutches of debt, make a budget for your monthly expenses.
It should include day-to-day expenses plus a small allocation for emergencies
and contingencies. Be disciplined about your plan. Don’t let the retailers and
credit card companies get to you.
- They Follow
The Beat Of Their Own Drum
Jones from next door bought the latest SUV from Ford. Good for him! “My car may
be 10 years old but runs well because it is well-maintained.”
If given a
choice, a person who is serious about staying debt-free may choose a used car
over a brand new car because he knows an automobile is an asset that
depreciates rather quickly.
live a debt-free life don’t care what others think about them. They understand
that you cannot control people’s opinions and instead, choose to focus on
factors they can control such as unnecessary spending!
Understand The Value Of Sacrifice
$10 for a meal at the expensive restaurant when you can prepare home cooked
meals for less than $5? Ditch the regular lunchtime excursions with the
officemates and brown bag your meals to work so you can save more money.
cost-of-living is getting higher, those who live debt-free will make the
necessary sacrifices to get by without getting a loan. Instead of signing up
for another month at the gym, they will just run at the park or exercise at
Can you live without debt? Yes you can! All you have to do is
believe in yourself and don’t be captivated by the advertising campaigns of
these lending and credit card companies.