6 Habits That'll Keep You Away from Debt for Good

Written by Grace & Silas

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Being in debt can be extremely stressful for most, but thankfully there are some great tips that’ll help you get out. You don’t have to be wondering if you’ll ever see the other side. With the tips down below, you can get started on getting rid of that debt for good. So check them out and see what you think!

Important Side Note:

book page beside eyeglasses and coffee

If you’re in debt, then I would definitely read Dave Ramsey’s book The Total Money Makeover which you can check out here. He’s helped MILLIONS of people climb their way out of debt and have financial peace and security. So DEFINITELY check him out!

Also! He has another great book called the Legacy Journey which is a great read. Check it out here!

Be careful with student loans.

Student loans are incredibly risky, but if done right, then you can pay them off a lot sooner. First of all, make sure you’re not going to an overly expensive college because it looks nice, or because all your friends are going there (I was tempted by this when I was 18). And even if the college you like has a great program for your major, keep on looking around for cheaper colleges that are just as good (if not better). Your future self will thank you.

Related Topic: 11 Smart Money Secrets from the Great Depression

Keep an emergency fund.

One of the reasons for debt is a sudden major expense, such as a medical or a car repair bill. You should start building an emergency fund right away, even if it seems hard at first. Whenever you get a paycheck, stash away a sum you won’t notice, even if it’s only $10. It adds up over time and becomes a cushion you can land on, helping you get back on your feet.

Avoid payday loans.

You should avoid payday loans like the plague. They are tempting but charge enormous interest on not just the original sum, but the interest itself. Over time, a small payday loan becomes incredibly hard to repay. 

Aggressively lower medical charges.

Sudden medical charges can be soul-crushing but some of them can be due to overcharging. So always check your bills to make sure there weren’t any mistakes made.

Track your expenses.

You should have an iron grip on your wallet and be aware of every cent going out. Now you don’t have to write down every expense, but you can use a budgeting app. Mint and PocketGuard are the two most commonly recommended budgeting apps. They can’t really stop you from impulse shopping, but they can help you eventually get a grip on your wallet and your life.

Related Topic: 40 Free Budget Printables That’ll Save You a Ton

Overpay your utility bills.

Utility companies typically allow customers to overpay. The excess amount is deducted from the next month’s bill. If you’re struggling with impulse shopping, start overpaying your utility bills, even if it’s only a couple of dollars each month. Over time, you will create a nice buffer that will help you keep clear of debt.

Whether your debt is big or small, there are always ways to get out of it. So give some of these great tips a try and see how it goes!


Meet Silas & Grace

Silas and Grace always had a passion for travel. So in 2016, they started Chasing Foxes as an independent income source. 4 months after launch, they were making enough money from their blog to travel full-time, and in the past 5 years, they’ve been able to encourage others in their blogging journeys too. Learn more about Silas & Grace.

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