Major Differences Between Those Who Are Debt-Free & Those Who Aren’t Debt-Free

debt

There are people who easily stay out of debt. There are also people who struggle getting out of debt.

There are people who strongly feel hopeful, even when they’re still getting out of debt. There are also people who immediately feel hopeless, even when they’re just staying out of debt.

Now, let me ask you a question: why is that?

Here are some major differences between those who are debt-free and those who aren’t debt-free:

Their Habits

“Habits become characteristics.”

Those who easily stay out of debt are those who practice habits that will make them easily stay out of debt. This includes keeping track of expenses and prioritizing needs over wants. On another hand, those who struggle getting out of debt are those who practice habits that will make them struggle getting out of debt. This includes using their credit cards for things they can live without and borrowing money from others for things they can purchase later.

Always remember, every habit that we have determines our future – if we become debt-free or if we become in-debt. On a brighter note, it’s never too late for us – to change our habits and to change our future.

Their Mindset

“Mindset is everything.”

Those who strongly feel hopeful, even when they’re still getting out of debt, have a mindset that – if it’s cultivated – will get them out of debt. This includes knowing the differences between needs and wants. On another hand, those who immediately feel hopeless, even when they’re just staying out of debt, have a mindset that – if it’s continued – will not stay them out of debt. This includes categorizing themselves between being entirely poor and being broken poor.

Being poor and being broke are two different things, with the latter having the most chances of becoming debt-free within a short period of time. But with this kind of mindset, one would prefer being broke rather than being poor – and sometimes, forgetting that being debt-free is the ultimate goal.

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