7 Habits that Keep You in Debt

Credit Card
When looking to pay off debt, many of us think about just setting aside a couple hundred dollars a paycheck until we have enough to clear ourselves out of the red. But what people should also be doing is looking deep into their spending habits.

Mood-boosting shopping and your daily coffee can seem like small harmless habits, when in reality they are enabling your debt!

Here are seven bad habits that could be keeping your debt lengthy:

  1. Borrowing
  2. Impulse buys
  3. Mood boosting spending
  4. Cash-back credit card dependence
  5. Routinely transferring balances
  6. Living on interest-free financing plans
  7. Keeping up with the Joneses

If you feel like you are guilty of any of these habits, look into how often you think you participate in these activities. You can change your habits if you become aware of your spending and borrowing habits. Go here for more detailed information on how you can fall into these habits and if you think your habit may be keeping you in debt.

Photo Credit: 401K

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