12 Habits Of People Who Are Never Broke & Live Debt Free

Having reasonable control of your money and finance doesn’t guarantee you living a debt-free life.

People living a debt free life adopt some habits which they make use of every time. However, these habits are the essential tools that will ensure you never get broke.

The feeling of having your money to yourself and no creditors on your neck is excellent. Being debt-free gives you the freedom to do anything you want with your savings and income without a second thought.

Yes, I know, living off debt is not that easy, especially with the pressure of getting credit all around. If you want to overcome the temptations, you need to take a firm stand on your decision of living a debt-free life unless you are ready to go broke.

If you are serious about staying happy and never getting broke, you will need to pay proper attention and learn about the habits people who never go broke adopted.

There are numerous habits that these people have adopted and worked with over the years. The choice is, however, for you to choose the ones you think will go well with you.

These money-saving tips are awesome, they have helped me greatly in paying off my debt totally. So, if you’re in debt, don’t give up, these tips would help manage your finances and live a debt-free life forever. #moneysavingtips #debtpayoff #financialfreedom,





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12 Habits Of People Living Off Debt

According to CNBC, debt is typical to Americans because 8 out of 10 of them are in debt. Debt is not strange, although, getting out of it is the vital part.

Once you are out of debt, the next thing is to look out for are healthy habits to implement to make you stay off any kind of debt for life.

So, if you are looking for the habits to try or you are thinking of those habits people living off debts practice, here are 12 of them. These will be a barricade to separate you and debt. These habits include:

1. Keeping and Living on Good Budget aid a Debt-free life



If you ever get the chance to talk to someone living off debt, you will know the importance of a budget. Budget can never be over-emphasized if you are ready to stay debt-free.  These people know their income, bills, and expenses.

They don’t just spend lavishly. These people adhere strictly to the billings on their budget, and if there is no pressing need, they will never deviate from their budget.

A budget is beneficial as it helps in pointing out excessive billings, cutting down expenses, and arranging needs according to their importance.

If you are interested in staying off debt, this habit is a perfect one to practice. Even the most successful people in the world make use of this practice. They give a task for an amount of money, and no matter what happens, the job must be completed.

So, if you are interested in staying off debt, start a budget and stick to it strictly.

2. Using Cash as Much as Possible Limits the Risk of Debt



This habit is essential. In fact, if you are interested in just one habit, you can take this. Making payments with cash helps you in being accountable for whatever you spend. It also takes you off credit card debt.

Paying with cash limits your spending. People who live off debt pay often with cash as it gives them control over their money and helps them overcome the temptation of overspending.

The feeling of paying in cash is sharply felt than swiping a card. Whenever you need to make a payment, try as much as possible to convert your money into cash.

When you are paying with your hard-earned dollars, you will always have a second thought before buying anything. If you know your budget, as well as the cash at hand, trust me, you will never overspend.

This habit is a beneficial one if you are ready to live a debt-free life. So whenever you want to buy things in the market or pay for anything except online payment, it is preferable to pay directly with cash.


3. Knowledge of Personal Finance Guarantees living Debt-free



Anybody you see that living debt will always have a good background on personal finance.

They look out for books, magazines, journals, attend seminars and conferences on personal finance. They even watch financial programs on television and also listen to it on the radio as well.

As I said earlier, debt is normal, and the abnormal part is retaining the position of a debtor. So learning, reading, listening, and watching things on personal finance will help in getting you out of debt.

People living a debt free life ensure they take absolute control over their money and not the money controlling their lives. Even when they go into debt at a point in their lives, personal finance assists in picking them back up.

This is one of the numerous things personal finance will open your eyes to and more.

4. Taking Care of Needs and Not Wants helps in Living Debt-free

A debt-free person will never buy all they desire because of the knowledge of personal finance they posses. They don’t go for things they don’t need or try to keep up with friends when it comes to luxury.

They don’t compete and rate their worth with cars, houses, and jewelry. Their worth is measured by their investment, savings, and shares. Indeed human needs are insatiable, but people who don’t go broke take care of their immediate need.

They don’t buy unnecessarily in fact for their urgent need, they think before buying them. They do all of these things not because they don’t like to purchase, but every bit of their money has a task to complete.

So, if you are trying to get out or stay off debt and never go broke, you work with the scale of preference, buy the most important of all you need, and if you have enough savings after investing, you can now look out for your wants.

Remember, to stay a debt-free life, a scale of preference is vital, and there is a need to differentiate between your need and want. You should also know when to take care of them and what means to use.

5.  CashBack Programs are Vital for Living Debt-free

Living a debt-free life does not stop you from spending, but as a smart person, you will need to look out for ways through which you will minimize the cost of things and if possible get some percentage back.

The best way through which this can be done is to buy using gift cards as well as cashback applications and platforms. Various stores give out gift cards which will enable you to discount when purchasing from them next time.

Also, there are apps and sites where you will get some percentage of your money back when buying. This mostly happens when patronizing online stores, although a few physical stores also give discounts.

You can get gift cards from stores, families, friends, among others. While for the cash backs, apps like Ebates, Swagbucks, DOSH and many more give specific percentages as a return. While on Amazon, whenever you use the gift card, the app and buy things on-site, you get some particular rates back.

A man living a debt-free life once told me that gift cards and cashback platforms are essential to him as his savings. This is to show the significance of this habit.

So if you don’t want to go broke, this habit is a must for you. You need to start saving as you spend.

6. Ensure Living Within Your Means Drives Debt Off



If a debt-free life is that one you wish and you are ready to live, then you will work with the little you have. People living this life, don’t go beyond their means, they set boundaries for themselves, and these boundaries guard them debts.

If your income is $30,000, your budget should not get close to your income not to talk of going pass it.

Living a debt-free life involves you setting a clear boundary for yourself. There are certain do’s and don’t guiding this life. If you want to stay out of debt, you will never live on expected funds, you can only plan on the one within your possession.

So anything you want to plan, desire, or achieve should be within your means. The moment you are crossing that line, you are leading your way into being broke, and debt is accumulating.

7. Giving Up on What You Don’t Need Ensures You Never Go Broke

People who don’t go broke learn to make sacrifices, one of which is dropping off some things. If you are in debt, you will need to take your time to point out unnecessary items.

There are certain things which are not so important to you yet they cost you some dollars. Things like these don’t deserve a single cent from you if you are trying to walk off debt.

Whenever you come across things that are no necessary, you will either need to cut them off or find a cheaper alternative. Íf you are the type that visits the arcade occasionally to play games, you don’t need that when you are trying to stay off debt. You can buy cheap games, or cards and play within the comfort of your home.

There are a lot of things that people who never go broke give up on as they eat up their dollars living little or no impact.  So if you are ready to be separated from debt, you need to make certain sacrifices.

8. Make Friends With People of  the Same Mindset



The friends you have affects you, the way you reason, and what you do. People who live a debt-free life keep friends that have the same mindset as them.  So if you want to stay off debt, you will never keep friends who see debt as a mechanism for survival.

When you decide never to go broke, you will need to filter your circle and keep the ones who share a mindset with you. You need to be friends with people who believe in investments, savings, productivity, and a loan-free life.

A friend who encourages you to keep buying the latest gadgets, shops for new dresses, take things on loan will never help your journey of a debt-free life. The people we work with, rub minds with and share thoughts with leaves aftermath in our lives. So, choose the right circle.

9. Goal Setting, Commitment and Dedication Drives Debt Away

For you to have a smooth journey in your debt-free life, there are certain goals you will need to set out for yourself. These goals will keep pushing you through even when temptations to spend richly set in, these goals will save you.

If you get a chance to speak with a debt-free person, you will hear how important goal setting is.

On the first day of the year or the last of the previous year, they reminisce on their achievements and draw out goals for the coming year. With this, their goals are spelled out, and this drives them for a whole year.

After setting goals, another habit these people do is to show a high level of commitment to these goals. Whatever they want to achieve, they show a high sense of commitment and in a way, dedication sets in. When they commit a lot in achieving their goals, they will dedicate their time, money, and ideas as well.

This habit is also a vital one that you must adopt when getting out of debt or staying off debt. If you are working towards no debt, you need to be committed and dedicated.

10. Look Out for Side Hustle to Live Debt-free



People who don’t go broke rely not only on their primary income, savings, or investment. They look out for other ways through which they can earn money. If it’s just their regular income, trust me debt would have set in since. These people look for other ways to make money, explore the niche, and save up from that.

There are a number of ways through which you can support your regular income without going illegal. We have passive income ideas, and some of these ideas can earn up to or more than your steady income when done correctly.

Your savings and investments alone will not get you out of that debt or save you from falling a victim of debt. You need to fuel your side hustle.

The money from these side hustles can measure up into your savings or use it in satisfying your needs or wants as the case may be. It is imperative to have a side hustle, and the significance can never be overemphasized.

11. Avoid Giving Out Loans ensures Living Debt-free

Calm down. You are already getting out being broke and staying off debt forever. Another thing to do away with when living a debt-free life is giving out loans.

Loans are not for individuals who want to live a debt-free life because the return is conditional. It’s either the person pay back or not. It is never guaranteed.

So staying off debt is not just about you avoiding taking loans, you should also learn to say no to giving out loans.  The word “lend or borrow” should be avoided as much as possible. Always try to say no to whoever asks you for a loan as it can mar you.

Most people who don’t go broke will tell you they give out money and not a loan. Aside from during unforeseen contingencies, if people living off-debt are to give out money, it will be in their budget already, they don’t just act, they act as planned.

A loan is a big no in a debt-free life, always this habit at the back of your mind every time.

12. Know the Value of Money aids Living Debt-free



The journey of your debt free life should start immediately I end this point. Lastly, on the habits of people living off debt is knowing the value of money. If you genuinely see the value of money, you will never find yourself in debt.

To stay off debt or get away from being broke, you need to know the actual value of money. You should realize that there is more to that dollar note than the paper itself. The value is enormous and immeasurable.

The society of today where we pay with the card does not depict the real value of money. That is why it is advised to use cash as much as possible.

So if you want to stay far away from debt, you need to understand the real value of money and keep that thought in mind whenever you are spending a penny. With that, you will never want to go broke or tagged a “Debtor.”



I know most of you were asking the question of how possible it is to live debt-free at the beginning of the post. Now you can see the high possibility of living a debt-free life. With a few habits, debt will never be in your dictionary, neither will you go broke.

However, if you are in debt already, these habits can assist in getting out of it and help you stay debt-free for life. Yes, debt is normal, yet it can be avoided.  What are you waiting for? Use these habits and stay off-debt till eternity.

I hope you enjoy reading this post. You can, however, recommend it to your friends, colleagues, and loved ones. Thanks for reading.

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