Keep temptation at bay
If you know yourself and you feel like you can’t control your impulses when it comes to buying stuff you don’t need, do your best to stay away from temptation.
Limit the time you spend online shopping. Online shopping addiction is the new problem that came with how accessible everything is these days.
You don’t even have to leave your house because consumer goods get delivered to you right at your doorstep.
Also avoid replacing things that are still fully functional. You don’t have to replace your current iPhone with a next generation one. You don’t have to have a brand new fancy car.
I know this is easier said than done, but you’ve got to change your habits before you can expect to get to get out of debt quickly.
Create a budget and stick to it
If you’ve never done this before, there’s no better time than now to start. Plan a budget around the things you prioritize – so food, housing, and utilities.
By letting go of the things you could do without like eating out at restaurants and paying for a gym membership, you’re freeing up more funds that could go towards repaying your debts.
Sticking to a budget is a valuable lesson that everyone should carry onto the later stages of their life and possibly start their kids off at a young age and equip them with healthy money habits.