Debt payoff can be such a struggle.  Just like any goal we tackle in our lives, we start off with such intense focus and motivation to conquer it, but then life gets in the way, our focus faulters and before we know it, we are justifying financing a car because we really need something “reliable.”

So what does it really take to pay off debt?  How do you know if you will actually be able to accomplish the goal you have set for yourself?  

What is the difference between those people who never get out of debt and those that just crush it?

7 Characteristics of People Who Will Definitely Get Out of Debt:

1.  They budget regularly.

Your budget is your roadmap. If you don’t have a budget; you don’t have a plan for your money and you will get nowhere.  Debt free people live by a budget. They have a plan for their money and they know exactly where they are going.

A budget will designate a purpose for every single dollar before the month even starts.  Some people budget every week, every 2 weeks or every month. Regardless of which kind of budget you live off of, you need to be doing it consistently and with intention.

When you are keeping track of your money and making it work for you to accomplish your goals, there is nothing you can’t achieve.  

USE OUR BASIC BUDGET SETUP SHEETS TO START TODAY!  SIGN UP BELOW FOR ACCESS!

2.  They don’t even consider more debt.

In order to have the intensity needed to work through a debt free journey, you have to believe debt is wrong with every fiber of your being.  If you don’t, you will continue to live with debt. When times get hard on your way to financial freedom (and it will definitely happen), you will be faced with a decision to make payments or finance something.  

The difference between debt-free people and people living in chains to their debt is they don’t consider taking on more debt as an option.  It’s like an ugly swear word and they can’t even imagine it.

When you decide to become debt free, more debt is NEVER an option.

3.  They set goals.

If you want to go somewhere, you need to know where you are going.  To become debt free, you need to know what that means for you.

• What debts do you have,
• how much will you pay off and in
• what time frame?  

Setting goals gives you a focus and a benchmark for success.

If you just decide you want to get out of debt and don’t set actual goals for yourself, it isn’t going to happen.  Give yourself a deadline, give yourself a dollar amount. Get after it!! People with written goals are 50% more likely to achieve them than those who don’t (source).

USE OUR FREE GOAL SETTING WORKSHEET TO SET YOURSELF UP FOR SUCCESS.  GET IT INSTANTLY WHEN YOU SIGN UP BELOW!

4.  They learn to say, “No,” to themselves.

Paying off debt takes discipline.  Often you are in debt because of poor spending habits and an inability to tell yourself, “No,” when you want something.  Once a path to financial freedom has been chosen, every single decision from there on out has to support the choice to be debt free.

This means there will be tons of self-sacrifice.  If you weren’t before, you will become disciplined.  You will learn to only spend money on what is absolutely necessary.  Delayed gratification will become your new lifestyle.

People who are debt free live knowing every “No,” they tell themselves now, is a “Yes,” they will be able to say later.  Self-control is the cornerstone to debt payoff. You can make or break your debt free journey in every decision you are faced with.

5.  They don’t lose intensity.

Regardless of the length of the debt free journey, intensity is required for the duration.  If the journey was 6 months or 6 years it is necessary to have a head down, blinders up approach to knock out debt as fast as possible.  

The intensity continued throughout the debt payoff journey will only fuel the fire and build momentum.  This will lead to debt payoff even sooner than imagined or planned.

Debt free people stay super focused on what they want (to pay off debt and live with freedom!) and don’t lose it no matter the length of their journey.

There are so many excuses people use to stay in debt.

• It will take too long.
• They don’t make enough money.
• Their husband will never do it.
• They want their kids to have fun and not be restricted.
• They enjoy eating out too much.
• They could die tomorrow so why suffer today?

Excuses will keep you trapped.  Develop an intensity that is greater than any weakness you may have that will hold you back.  Debt free people don’t have excuses; they have an intensity that builds as they pay off their debt.

6.  They don’t eat out.

It is a well-known fact food is a major expense in most households.  If you were in a room with 10 people, at least half of them would have no idea how much they were spending on food every month.  In fact, they would be shocked if they added up groceries and eating out expenses.

My husband and I used to spend $400-$600 on food per month for just the two of us.  We would

• buy groceries,
• not make meals,
• complain we had no food and then
• go out to eat instead.  

Sound familiar? Since embarking on our debt payoff journey, we have cut our food budget in half for a family of 4 and we no longer eat out.

Debt free people understand, eating out is a want, not a need.  It is a want that will drain your budget. You are flushing money down the toilet….literally.  

Eating out is a privilege when it becomes something you can afford.  If you are in debt, you can’t afford to eat out. When you can finally take control of your grocery spending and stop eating out, you will be successful paying off debt.

7.  They think long-term.

When you decide to become debt free, you need to know why you are doing it.  Why are you sacrificing your life right now? What do you see for yourself in the future?  If you want to be debt free, you need to have a vision for where you will be in the long-term.

You need to learn to see the bigger picture.  Is the purse you want right now worth it? Or, would you rather focus on debt payoff so you can go on luxurious vacations with your husband?

Debt free people can see the bigger picture.  They know where they want to be and it allows them to stay focused, pay off debt and continue to live debt free.

There is no guarantee you will get out of debt just because you decide to, but if you focus on these 7 things, you have a much greater chance of accomplishing your goals.  There is no silver bullet to ensure you become debt free. It takes focus and dedication. But, if you have these 7 characteristics, I have no doubt you can absolutely become debt free!

You’ve got this!

PIN FOR LATER!