Staying debt free is a matter of developing the right habits. You have to learn to tame your urges and think about how difficult it was for you to get out of debt. Based on the experiences of many people who have stayed out of debt for good, here is the list of good habits that would help you maintain debt freedom.
1. Create a budget and learn to stick with it. You don’t want to get into the trouble of huge debts again. Now that you got off of debt, plan out how you would spend your money. This will prevent you from making drastic decisions. And you should keep your expenses lower than your income. This may be difficult at the beginning but constant practice will help you get used to it.
2. Make a list of the things you would buy before going out to shop. Once inside the grocery or mall, be economical without compromising the quality. Once you have taken everything in your list, go home at once. You have to literally avoid the temptation of buying stuff you don’t really need.
3. Pay in cash. Leave your credit card at home when you do your shopping. If you can’t pay in cash, it only means you have to forego purchasing the item or that the item is not in your budget. This is one of the most effective ways of living within your means.
4. Most importantly, learn to save. Saving is not only for the “now” but more especially for the “future”. Remember that you need to prepare for future emergencies.