15 Secrets Debt Free People Know That You Probably Don’t

Living debt free is a lifestyle, and as someone who is living debt free, I can say that it is a lifetime of making the same conscious choices day in and day out. Even when it’s hard. Debt free living takes commitment and strength, determination, and focus, but anyone can do it. Yes, even you!


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After asking a few of my debt free friends in addition looking at my own debt-free lifestyle, I have come up with 15 debt free tricks.

debt free living

Debt free people wait

They don’t buy anything on impulse. We have a “three sleeps rule” in our house. This helps cut down on impulse buys. The three sleeps rule means that unless it is a true emergency, you must wait three nights before buying something you’re thinking you’d like to buy.

They research before they buy

Everything they buy is determined to be the best purchase that can be made. They research, read reviews, and shop around before buying anything. The larger the purchase, the more they research.

 Debt free people ask for advice

They ask friends for advice on what to buy, and, they ask for help from people like sales people and other authorities in whatever they are going to buy. For instance, asking the repairman his advice on what to buy since he is there anyway.

 They take responsibility for the financial mistakes they make

Debt free people realize that no matter what, the buck ultimately stops with them. No matter the circumstances, they will be the one to deal with whatever comes.

Debt free people learn from their mistakes and don’t make them again

This is such a good one. We all make mistakes. But, mistakes are an amazing opportunity to learn how to do things differently, to learn how to do things better, and to learn how not to do things a certain way. Debt free people don’t see mistakes in a negative light, rather, they take them and use them as a springboard to move toward something positive.

They don’t care about material things

For debt free people, it is all about the goal. It is all about achieving their dreams, and there is nothing that they allow to get in their way. For this reason, they simply don’t care about material things. They can’t. If they did, it would take them longer to accomplish their dreams. And for debt free people who worked hard to get their, they stayed the course without getting distracted by material things.

 Debt free people live on less than they make, no matter what – every.single.day

You know what this means, right. When income levels go down, so do spending levels. We lived this reality when we suddenly found ourselves living on $1,600 a month with a family of eight or nine to spread that between. Debt free people live and breathe this concept. You should, too.

Debt free living means paying in cash

Paying in cash is a great way to keep spending levels in check. Paying with a card or electronically is just too easy. It’s too painless. We can do it with the click of a button without ever giving it a second thought. With cash, if you don’t have it, you don’t buy it. Plain and simple. This very principle alone would keep countless people out of heaps of debt trouble. Pay in cash for everything and you’ll spend less. It’s part of debt free living.

They save something every month

No matter how low the income goes, debt free people save something every month. This is true even if it’s just a dollar or two. We did this even when living on that crazy low amount. It was just a dollar or two, but it is all about making saving money a habit – and never getting out of that habit.

Debt free people aren’t pressured by anyone

Peer pressure is one of the primary reasons people spend money. It’s kind of like keeping up with the Jones’s. This can be pressure that is intentionally or even unintentionally impressed upon people. Debt free people simply remain focused on their own journey regardless of what others around them think or say (unless they are learning wise money ways, of course).

Debt free people pay themselves first

This refers to debt free people putting money into savings or paying down on debt before paying any other bill. They do this with every paycheck. They pay themselves just like they pay anyone else. Paying themselves is that important.

They pay attention to everything coming in and everything going out every month

Debt free people never, ever bury their head in the sand about any of their money. They know everything. Debt free people know where every dollar and penny goes. They pay attention, and they do it every day. Nothing comes in or goes out without them knowing about it.

They set financial goals

Setting financial goals is something that so many people don’t do, but this isn’t the case when it comes to debt-free people. If you don’t have any financial goals, how will you know where you’re headed? Debt-free people set financial goals, and they are forever making sure they remain on track to meet them.

Debt free people never lose sight of the big picture

Setbacks happen. They just do. But even when they do, debt-free people remain focused on where they are going, not what might be around them.

They know how to walk away

For debt free people, there is nothing that they aren’t willing to walk away from. No matter how good something seems, debt-free people will walk away without giving it a second thought if they determine that it is in their best interest to do so.

Debt free living doesn’t just happen and it isn’t easy for most people. It certainly wasn’t easy for us to get there. But, it is pretty amazing to get there. Debt tricks, debt tips, and advice from people who are living debt free are invaluable tools that will teach you so much about how to have a healthy relationship with money.

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