5 characteristics of debt-free people

People who have debt typically have a spending problem. They aren’t living within their means and overspend. Their lifestyle doesn’t line up with the amount of money they are bringing in.

If you ask me, that sounds like a stressful life. But spending less money isn’t the only reason why debt free people are debt free.

Here are 5 characteristics of people who are debt-free:

They are patient– Becoming debt free takes time and time takes patience. Debt free people are willing to wait and buy things with cash, then get into debt. They are willing to save, even if it takes a long time.

They are responsible– Responsibility with money means living within your set budget. A responsible person knows that new cars, clothes, and vacations, can wait. They won’t spend or celebrate until they are debt free.

They are goal-driven– Debt-free people are driven by setting and accomplishing goals. They set clear smaller goals, that build off each other, until they can reach their main goal, like becoming debt-free. They are determined and don’t give up when it’s difficult. Makes sense, right?

They are not materialistic– Materialistic people are overly concerned with “things”. They are willing to get into debt to get new cars, clothes and go on vacations. Debt free people know that in the end, these things won’t make you happy, and avoid debt!

They make sacrifices– It’s not easy being debt free, especially if you are in a lot of debt right now, so sacrifices must be made. They are willing to cut out going to the movies, monthly subscriptions, or cable. They know that these sacrifices are just temporary and budget cuts will help them reach their goal of being debt free.

These characteristics are just a few to help you see how those who are debt free have done it. Need some more tips on how to remain debt free? Learn more on the Lift Credit Blog.


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