There are many ways you can reduce your debt, but how do you develop the simple habits that make saving a mindset? There are some great tips out there for developing these powers of saving and by changing just a few things about your lifestyle, you can see how easy it is to save and climb your way out of debt. We have provided a few lifestyle changes you can start implementing today to get out of debt.

Top 10 Habits to Help You Reduce Debt

  • Spend Less than You Earn – A simple concept so it should be simple to follow. Create a budget and take it seriously.
  • One Credit Card – If you only have one, then you can’t spend more than your limit. Have one card for emergencies and burn the rest (or cut them up if you prefer).
  • Build an Emergency Fund First – Make sure you have a contingency in case you get sick or lose your job. Make this your top priority.
  • Cut up Your Credit Cards – This will help you stop spending when you make payments.
  • Stop Using Credit Cards to Make it to the Next Paycheck – Having both one credit card or cutting them up will make this much easier.
  • Avoid Eating Fast Food – This is a money killer. Just by going to the grocery store and cooking, you can save hundreds each month.
  • Create a Realistic Budget – Not every budget will work for you. You need to set realistic goals and make sure you’re meeting them.
  • Maximize Your 401K contribution – If you get a raise, spend it all on increasing your 401K contribution. Act as if you never saw that money and you won’t miss it or spend it on silly things.
  • Move into a Smaller Place – This is a more drastic move, but if you have a lot of debt, the simplest solution is to start cutting expenses. Maybe move back home with parents or get a downgrade to your apartment for a while.
  • High Interest – This is what you need to worry about. You need to pay off your highest interest first and work your way down the ladder.


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