1. Organized and detail-oriented. These people closely monitor their spending. They know how much money is coming in. More importantly, they know where the money should be spent. They use the budget as a tool to know which expense to prioritize. They are least likely to make bad decisions because they look at the bigger picture.
2. Practical. Debt free people have a good grasp of the real world. They know which expense they can or cannot afford. They are not extravagant but stay on the practical side. For example, clothing is made to cover the body. Instead of buying branded clothes, which are more expensive, they buy the available alternative.
3. Self-reliant. They know how to live within their means. They depend on their resources, not on loans. Borrowing is not the first option but the last resort. Whenever possible, they save for emergencies.
4. Patient. Freedom from debt would require a huge amount of patience. Debt free people avoid getting themselves in debts. When they purchase, they pay in cash. When they use their credit cards, they do it at the right time.
5. Self-confident. They are the kind of borrowers that are not overwhelmed with the latest gadgets. They know that success depends on hard work, not on what they possess. They are not materialistic. Their happiness is not on things they own.
Responsible. Responsibility is perhaps the most important characteristic of debt free persons. They know that the decisions they make now will impact the future. They know that whatever is happening now is the consequence of their choices.