Things I Discovered When I Paid Off Debt In Few Months

[Finger Geek]

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Like most people, I used to spend beyond my means. My poor financial habits landed me in lots of debt. I had to learn how to avoid overspending and manage my money. This taught me to prioritize my expenses, pay off my debt and live a healthy life. It's important to do this if you want to manage your money well.

When you have debt, it's important to prioritize your expenses. You need to stop paying for things you don't need and start paying your debts. It's also a good idea to only spend money on things that generate value for your life. This will help you stay out of financial trouble and focus your limited resources on the things that will make you happiest.

It can be tough to change poor spending habits, but it's important to do so. You'll need to avoid overspending and manage your money wisely. It's also a good idea to only spend money on things that will improve your financial situation- such as paying off debts or saving for a goal. Don't waste money on frivolous purchases that won't improve your financial situation.

It can be tough to cut back on expenses, but it's important not to waste money on unimportant items. You'll need to stop buying unnecessary items- such as brand new clothes or food- whenever you get money. Instead, focus on saving money by not buying items at all when you're low on cash. It's also a good idea to only spend money on things that will improve your financial situation- such as paying off debts or saving for a goal. Don't waste money on frivolous purchases that won't improve your financial situation.

Most poor financial habits are caused by wanting more money - not less - which makes spending easy. You'll need to avoid this mindset by valuing security over temporary rewards whenever possible. This will help you make conscious decisions about what you should spend your money on and how much of it should be saved for a security blanket.

Understanding how to manage your debt is key when you're struggling with financial troubles. Debt forces you to take control of your finances by prioritizing expenses, paying off debts and living a healthy life away from excess spending sources.

 

[Abigael]

I have ever been in huge debt before too. I was living a really miserable life. One that was filled with one debt after another and I never had money to pay it back. Most of the time, I would take loans without a plan on how to pay back.

Here are things that I learnt about debts;

1. They are unhealthy.

Debt is physically, mentally and financially unhealthy. It causes you to be financially unstable, have so much stress and in turn, you neglect your physical health.

2. You have to work hard to earn the money you need.

That is something I had to come in terms with. I couldn't keep on living on debt. That is why I don't even believe in credit cards. I believe in spending money after earning it.

3. You have to control your urges.

The key to avoiding debt is to say no to urges of spending money that you don't have. Everytime you say no, your self control becomes better.