Becoming debt-free is a goal a lot of people have. You may be wondering- “How do you become debt-free?” In today’s world full of people who are bogged down by student loans, is it really possible?
Here on Self-Made, we’re here to tell you that it really is possible. Here are some of the steps to becoming debt-free, and how to continue maintaining that lifestyle forever.
40. Think Like Someone Who Makes Less Money
When you listen to popular rap music playing on the radio, there are a lot of songs talking about being “young money.” They often talk about designer brands, luxury cars, and spending extravagantly. Being “poor” is seen as being one of the worst things in the world. This mindset encourages people to overspend on things to make themselves look rich, and this often gets them into a lot of credit card debt.
If you want to be debt-free, try to have the complete opposite mindset. Instead of feeling like you are “young money” every time you get paid, try to think of yourself as someone who is poor. Even if you are making a decent salary, this exercise in monk-like behavior is all about your mindset. If you consider yourself to be poor, then you will be less likely to spend extravagantly and get into debt.