7 Great Habits That'll Help You Destroy Debt

Written by Grace & Silas

Getting into debt is a fairly easy thing to do if you aren’t careful with your spending. However, getting out of debt can be a lot harder, especially with a lot of financial obligations and pressures in life. So here are a few habits that can help you get out of debt and rebuild your financial safety net.

Remove Temptation

One of the biggest causes of debt can be the easy-access of a credit card. By cutting it up and canceling your account, you have already taken a major step towards financial freedom. 

Only Buy Things You Can Afford

Buying things that are out of your budget will ensure debt. But by sticking to things you can afford, it means you won’t end up with a debt that spirals out of control.

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

Shop Smarter

Even doing your grocery shopping can help you destroy debt. My friend in the UK has spoken to me recently about the price differences in major supermarkets. She used to shop at Tesco, but now she uses a cheaper store called Aldi and has found that her monthly shopping has decreased by about £150 ($195). This money can then be put towards getting rid of your debt and/or building up any savings.

Keep an Emergency Fund

To destroy debt, and stay out of it, it will help if you start putting other money aside. Imagine the scenario; you have paid your rent and bills, and have just enough money left for groceries for the month and then BAM you need a new tire. Hello, credit card debt! But with an emergency fund, you can put money away that can be used for any unforeseen expenses.

Learn to Budget

Look at the amount of money you have coming in as well as the amount you have going out. See where you can feasibly afford to cut back. Perhaps look into changing suppliers of utilities to a cheaper brand. By looking at where your money comes from and goes you will be better equipped to remove debts from your life.

Don’t Deplete Your Treats

If you cut out everything you enjoy from your life, then there is a higher chance you will relapse into bad spending habits and stay in debt. Make sure you allow for some fun in your life but don’t go overboard. Stick within your budget; we don’t want you to get into more debt. 🙂

Related Topic: 11 Smart Money Secrets from the Great Depression

Check Your Health

Debt can be mentally taxing, and more so for someone with a pre-existing condition. Make sure you are mindful when dealing with debt and getting support from family, friends, and professionals; otherwise you risk harming your mental health and potentially making your debt worse through medical bills or spending that makes you feel better in the moment.

Give these great financial tips and tricks a try so you can get out of debt sooner and have the life you want! You’ll be much happier if you do. 🙂


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.

A grayscale side portrait of Silas and Grace Moser of Chasing Foxes kissing one another.

Finished? Explore our tips below…

A pretty bullet journal being written on by a woman.