7 Spending Habits That Lead to Debt That You Should Try to Correct ...

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COMMENT

Since debt isn’t something that happens accidentally, I must tell you that there are quite a few spending habits that lead to debt that you should really try to correct so you can save a lot of money and a lot of stress later.

I know that sometimes you might feel like you will never be able to pay off all your debt and expenses, no matter how hard you try.2

Well, this type of thinking is dysfunctional, since there are quite a few things you can do to minimize debt in all areas of your life.

For example, you might not even realize that you often do things that increase your debt or that you make some poor money choices, despite your good intentions.

Just read on and find out what are those spending habits that lead to debt that you should stay away from, so you’ll keep yourself out of trouble:

1. Spending More Money than You Make

Spending more money than you make is definitely one of the worst spending habits that lead to debt that you should try to correct.

We are all tempted to buy all kinds of things we don’t really need, and most of the time those things are pretty expensive, even more expensive than we can afford, and we still buy them anyway.

If you have to dip into your savings or borrow money from others just to buy that expensive thing you think you want so much, then you definitely spend more money than you make.

Before making this unhealthy choice, I recommend you think twice and see if you can’t find other options that are more affordable and that won’t increase your debt.

2. Using Credit for Ordinary Purchases

Try not to use credit for ordinary purchases if your goal is to pay off all your debt.

Just use cash to make those everyday purchases like groceries, gas, clothes or even entertainment.

I know that the thought of paying later for what you buy now may be appealing, but unless you discover some treasure, you won’t have more money later to pay off your debt, just more expenses.

This is definitely a bad habit you should try to correct, especially if you don’t pay your credit card bills in full each month.

Using Credit when You Have Cash
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