4 Habits to Add to Your Daily Routine to Stay Out of Debt

Establishing a healthy financial foundation takes time, consistency, and practice that may require adjusting your daily routine and habits. Being in debt can be incredibly stressful and debilitating for you in every way, especially mentally. If you have to constantly worry about clearing your debt while still having enough money to keep you afloat, you can find yourself running around in circles with no end in sight.

Before we can talk about what to do to get out and stay out of debt, you need to first review some of the bad habits in your current daily routine that are creating and growing your debt.

Bad habits in your daily routine that cause debt

Shopping for retail therapy

Are you constantly buying things – not when you need them but just because you’re sad or bored? In the same way someone can stress-eat to fill a void, you might also be shopping each time you need a mood lift.

If you constantly go on mood-based spending sprees without checking your emotions, this can be a symptom of a deeper-rooted issue that you will need to address.

Making purchases on Impulse

Is reaching for your credit card something you do as a knee-jerk reaction all the time? If you mostly use various credit cards to pay for your purchases, you may be pulling the wool over your own eyes without realizing it.

Shopping regularly on credit creates a false sense of security and willful ignorance about the true state of your finances, which can have disastrous consequences when those everyday purchases add up over time.

Spending money for appearances

Are you buying things to impress or fit in with someone else to make yourself look successful? If you see something a colleague has bought and feel pressure to rush out to get the same thing, or an even better version, that’s a bad sign.

Making a habit of constantly evaluating whether you measure up to your neighbors’ or friends’ perceived success is a one-way street to financial ruin and massive debt.

Ignoring your debt

Do you avoid checking how much you spend and how much debt you carry? If talking about your debt makes you uncomfortable, defensive, or upset, or if you are constantly ripping up bills and statements without opening them and avoiding phone calls from creditors and debt collection agencies, then you really need a wake-up call.

Good financial habits to add to your daily routine

Now let’s talk about some healthier daily patterns you can adopt to get you out of your financial quandary and help you stay debt-free.

Start using cash or debit cards

The best way to avoid debt is to avoid the credit card trap by spending only what you have each time you buy something.

Many studies have shown that most people find the physical act of handing over cash a lot harder than a simple card swipe. Buying with hard cash forces you to confront how much or how little you have, which can help keep your bank balance in check.

Make extra debt payments

If you’re in debt, you probably already have a couple of repayment plan arrangements to reduce the debt. Apart from your obligatory payments, make it a habit to pay a little extra each time. Every time you get additional money, like a bonus or tax refund, condition yourself to start saving. Another easy way to make extra payments is to find an extra side hustle or income stream!

Always seek out cheaper options

As part of your daily routine, make lists of all non-essential purchases or fun activities, then find some cheaper alternatives for each item. Choose budget-friendly activities with friends and avoid buying things if they are not essential. For instance, you might join an online arts and crafts course to learn how to make gifts for your loved ones instead of always buying expensive presents.

Start a saving culture

You should never tell yourself that saving can only be done when you’re rich or financially sound. In fact, the opposite is true!

The best way to have savings is to simply start saving. It doesn’t matter how little you think you have or even if you’re paying off debt. Start saving habits, like setting a recurring automatic transfer to your savings account. The act of saving alone, even one dollar per day, can shift your mindset from being debt-prone to being savings-oriented in no time at all.

Christian counseling to get overcome debt

Financial matters and jargon can be mind-boggling and seem impossible if you try to handle them all by yourself. A therapist or counselor in Westlake can help. Contact us today at Westlake Christian Counseling to meet with a counselor experienced in debt therapy to help you get on the right track.