How to Stay Debt Free


In our world today it has become easier than ever to take out loans and start obtaining debt. We can take out loans for school, for cars, for homes, for personal reasons and even loans just to have more cash on hand. However, because it is so easy to take out money, many in the United States have also started to develop an issue with debt. Sometimes, people need to acquire debt in order to survive, but many times, the amount of debt people acquire simply isn’t necessary. This is why it is so important for every person, particularly those looking to build wealth, know how to stay debt free. Here are some of the best tips on how to do this.

Stop Hanging Out With People Who Are Always Broke

The people you surround yourself with are very important. You need to surround yourself with others that inspire you, not individuals who bring you down. If you are always hanging out with other people who are broke, then it will only reinforce that these actions and behaviors are acceptable. Instead of only hanging out with people who are broke, start hanging out with people who are stronger with their finances. They will inspire you to become debt free and to stop acquiring more debt. The people you are friends with and that are around you the most actually have a great deal of influence on the choices that you make even if you don’t realize it.

Pay Your Bills Right When You Get Them

So many people will receive a bill and then wait to pay it until the last possible minute or until the bill’s due date. This is a great way to forget about payments and start acquiring more debt. A better solution is to start paying your bills right when you get them. The moment you receive them, make the payment and then move on. It will help prevent you from acquiring debt and late fees and it is a smart way to become more disciplined. Doing things like this that teach you to become more disciplined with money can be a great start

Live Below Your Means

Most people today will actually live far above their means. While it can be fun to act like you have more money than you do, living above your means is actually really dangerous and it can lead to a lifetime of debt. Instead of trying to live above your means, start trying to live below your means. It allows you to put plenty away into savings, prevents you from getting caught up in bad habits and stops you from spending more than you can really afford. If you want to stay debt free this is perhaps the most straightforward method. It doesn’t mean you have to give up everything though. Try to keep things in moderation and it can really go a long way in keeping your finances under control.


These are some of the simplest and most straightforward ways for any person today to stay debt free. It also makes a great foundation for building wealth and can put you on the path to a more financially secure future.

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