Life without debt is what everyone strives for. Not everyone can do that. With these 7 tips you can make smarter use of your money so that you can live without debt.
Tip 1: keep track of small payments
They may only be small payments. You can think of a few euros that you borrowed from a friend, or a fine of twenty euros that is still open. However small, it does count! Keep track of exactly what and when the payment must be made (if necessary, you can put this on your calendar or in your agenda). Make sure you keep an overview, so that these small payments do not end up as debts.
Tip 2: have self-confidence
This tip does not seem to be related to money or living without debt, but nothing could be further from the truth. You don’t have to impress with your stuff. If you are confident enough, you only buy what you need.
Tip 3: be patient
Sometimes you have to wait with a purchase. Do not be ashamed if you are temporarily unable to buy something, or if you have to save for a larger investment or purchase. Better than putting yourself in debt! In addition, you can ultimately be proud that you watch your wallet. And if that means that you temporarily have to buy in a cheaper supermarket, so be it. Take the time to build your wealth. That luxury will come later.
Tip 4: set concrete goals
We’ve mentioned this before … and it goes for money too! Make concrete for yourself how you want to stand financially within the next year. You then know where you are working towards. In addition, you can better plan how you can reach that end goal. You know what to put aside (and how much) and where to get that money from. Additional bonus: you will also keep better track of where your money is going.
Tip 5: take responsibility for your own financial situation
You may find yourself in a financial situation that you are not happy about. Many people blame everyone but themselves. That does not work! Even if you would have ended up in that situation at the hands of others, you can solve it yourself. Take your own responsibility and take action!
Tip 6: learn not to think materialistically
The latest phone? That bag from Gucci, Prada or another fancy brand? If you don’t have Gucci money, you don’t buy Gucci either. Only buy what fits your budget.
Tip 7: reward yourself / choose wisely!
Have you saved on anything? Reward yourself! This does not mean that you have to spend the entire amount that you have not spent in another way. Rather, it means making smart choices. Can’t afford a holiday and a car? Then choose smart. If you are really ready for a holiday and you can easily travel by public transport, then you choose the holiday. Or the other way around: you can take a week off to recharge and still buy the car that will yield you (time) profit in the long term. Take a good look at which smart choices you can make. You reward yourself with such a choice!
