Debt-free people share some common traits that we’ve observed over the years. We’re going to reveal what they happen to share in common!
To live this lifestyle means thinking in simple terms and even at times, outside of the box. Especially as unfortunately today, being in debt is consider normal, not the exception.
We would recommend that you adopt the same characteristics, habits and approaches to finance that we’re outlining here. These are the most commonly shared with those living financially free lifestyles.
Debt-free people have a savings account
Yep. That’s the 1st secret that debt-free people live by. They have a real savings account, and they contribute to it every week.
In fact, quite commonly, they save before spending a single dollar. After savings and expenses, they can then spend whatever is left over. Those living this debt free lifestyle place a great importance on this.
They’ll seek help when needed
We might place them on a pedestal, but these people are smart. And smart people will ask for help when needed.
How do they ask for help? They’ll ask creditors for lower interest rates. These people will ensure they’re getting the best deal possible. Sometimes (actually often) the answer is a polite decline, but these people are always keen to ask to maintain their debt free lifestyle.
They’ve learned how to say no
Just like merchants declining a customer’s desire to get a discount, debt-free people also know how to say no to opportunities. Their priority is always staying out of debt, and they won’t budge for things that are outside of their price point.
They’ll choose not go keep up with the Jones’s and instead focus on their budget and cash flow. They consider money to be an asset, and credit cards to be the devil. Dramatic, yes, but they wouldn’t have it any other way.
They understand money and its value
These people pay their bills in full each month WITHOUT the credit card interest. Sure, they might have a credit card, but it’s always paid in full as well. If they want to purchase something, they’ll check first that there’s money available.
Certainly there’s a distinct difference between debt-free people and those with massive amounts of debt. Those debt-free generally have a more pleasant and basic lifestyle. Essentially, they don’t want to skip today’s payment for a great lifestyle, and have to pay for it down the track.
This hasn’t been learned in 5 minutes. These people have the right state of mind and certain characteristics as outlined here.
We hope these practical tips have been helpful. But wait – there’s more! Get in touch with us to see if there’s any more specific advice we can give for you and your current situation.