Debt Relief

5 Traits Of The Debt Free Individual

Being debt free is a goal that every one over the age of eighteen has. No one likes to be a virtual slave to their payments. Unfortunately, there are very few of those legendary creatures walking the Earth today. The few that do exist have several traits in common. Here are five of them.

  1. Organized to a fault. They know how much they owe at any given time. They can quote each due date and never miss one.
  2. They have a household budget that they stick to no matter what. Literally, they will consult their budget like it is an oracle.
  3. They are patient and plan everything. This goes back to the almighty budget. They know that they will need tires for their car, so they budget that amount in and buy the tires on a schedule. They vacation, but may have to wait until next year for their budget to allow it.
  4. They pay cash at least 99 percent of the time. They have a ”no cash, no buy” attitude. If they are forced to use a credit card, they pay the full balance before the end of the billing cycle to avoid paying interest.
  5. Debt free people will pick up the phone on a regular basis and comparison shop every aspect of their life. What cable provider is offering the best deal, where can I get the cheapest insurance rates, etc.

Debt free people are financial control freaks for good reason. When it comes to their money, everything has its place and everything is in its place at all times. Try to apply that mindset to your life and you may be able to whittle your debt down until your too are debt free.