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Finance: 5 habits of debt-free people

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5 habits of debt-free people
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If you always have debts to pay and you find it hard to pay your debt then you should check your daily habit and lifestyle.

It could be a reason you are always in debt. For you to be debt-free you need to study the lifestyle of people who do not have any debt.
Here are five habits displayed by debt-free people you should try

1. They live below their means

People who are debt-free live below their means. They know they have to do so, even if they can afford to live beyond their means.
They do this to save more and also not to accumulate debt.  They also set aside a certain amount of their income and put it into their savings, then live off what is left of it.

2. They follow a budget

People who are debt-free have a budget they work with,  which works well for them and they also stick to.
playDebt-free people follow a budget and stick to it. (Pinterest)
They set realistic budgets which are in tune with their monthly income.
If you have no budget, then you should start by creating a realistic budget you can follow through monthly.

3. They have multiple streams of income

Those who are debt-free have more than one stream of income. They do not get their money from only one source.
It’s either they have a second job, business or a side hustle.  While some have investments they venture into, just to make more money.
You should also find ways to make more money by having at least more than a stream of income.

4.They set financial goals

People who don’t have debt have financial goals they set to achieve within a time range. They know what their aims are financially and they go for it.
playYou need to set financial goals to avoid having debt. (Pinterest)
They cannot afford to incur debt if they want to achieve their financial goals. They have set plan for their short-term and long-term goals.
This is one habit of people who are debt-free you should try. Try setting financial goals you plan to achieve within a time frame.

5. They have both savings and emergency fund

It is very clear that if you have steady savings and a functioning emergency fund, you would be free of debt.
playTo avoid incurring debt you should have an emergency savings fund. (Pinterest)
People who are debt free have savings which they keep building for major projects.
They also have emergency funds for unexpected situations, which won’t affect their income or their savings in any way.
You should start saving for major projects you plan to execute and also an emergency fund for unexpected life happenings.

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Ike Ani is a Freelance writer whose quest constantly is to relate happenings around the world to human daily living. He's also a song writer and singer, Acoustic Guitarist, and Teacher.

1 Comment

1 Comment

  1. Nkaiso Asikpo

    January 19, 2018 at 7:26 pm

    I love this article. It is simple to understand and insightful!

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Lifestyle

L. A Prisoners Infect Themselves With Coronavirus To Get Early Release (VIDEO)

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A group of silly L.A area prison inmates were very eager to contract the dreaded coronavirus .

They attempted this because they believed that would trigger their ticket out of prison.

According to the L.A. County Sheriff Alex Villanueva who made the startling revelation Monday, said about twenty-four (24) inmates at the Pitchess Detention Center in Castaic attempted (and somewhat succeeded, apparently) to infect themselves way back in mid-April 2020.

The Sheriff revealed that their department saw an increase in spike in confirmed cases out of nowhere.

He said that when they investigated, they found a high number of inmates living in one block of the prison appeared to be deliberately trying to infect each other with COVID-19 any way they could from behind bars.

When Alex Villanueva played the surveillance footages he and his team combed through carefully , and it showed several inmates hanging out in a common area and passing around what Alex described as a hot cup of water, as well as one face mask they’d each put on all in hopes of getting sympathy from a judge to spring them from the facility and let them go home.

But it turns out, their little ploy worked but, only halfway.

Villanueva reported that 21 of the inmates (out of 50 in the block) caught the ‘Coronavirus.

“What they won’t catch is a break” said the Sheriff.

Watch the Video HERE

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COVID-19 LOCKDOWN: 12 Year Old Albino Girl Suffers Eye Problems After Hawking Veggies In Abuja (PHOTOS)

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A very sad Facebook post greeted Nigerians from Abuja showing a 12 year old Albino Girl Grace, who started developing sight problems after Hawking Veggies under the scorching sun in Abuja.

The Facebook post stated that the little girl was asked to hawk the veggies by her aunt whom she lives with.

Below are the Screenshots of the Facebook post:

This sad news has sparked an outrage by well meaning individuals who spoke against such cruelty and insensitivity of the said girl’s aunt.

what do you think of this? Drop your comments below.

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“Buhari is Made In London” – Reno Omokri Blasts Presidency On Nigerian Made Products

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced.

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Reno Omokri Nuggets

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced. Many Nigerians have tagged it a harsh move that is insensitive and inhumane but moreso, Reno Omokri has singled out signals of hypocrisy in the President of Nigeria by outlining certain traits of family moves of the President that shows that he(Buhari) as the No.1 citizen has no regards for anything made in Nigeria but yet wants other Nigerians to embrace Nigerian made goods.

Reno Omokri ‘s tweet reads:

His kids schooled in England. His wife just returned from a 3 month UK stay. His daughter gave birth to his grandchild in Spain (made in Spain), yet
@MBuhari
, who is London, wants us to patronise made in Nigeria!

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