7 Daily Habits to Prevent Debt
Prevent financial problems with these seven proven habits you can start today.
Prevention is better than cure: 7 habits to avoid debt
Debt rarely develops overnight. Small habits build up into a big problem. These seven daily habits help you prevent financial problems.
Habit 1: Spend less than you earn
It sounds obvious, but for many people in the Netherlands, this is the biggest challenge. The trick is not to let your lifestyle automatically expand as your income grows.
Practical tip: When you get a pay rise, automatically save at least 50% of the extra amount. Use the 50/30/20 rule as a guide.
Habit 2: Wait 48 hours before making major purchases
Seen something you like costing more than €50? Wait 48 hours. In 70% of cases, you realise you do not really need it. This alone could save you €500-1.000 per year.
Habit 3: Do not use Buy Now Pay Later
Klarna, Afterpay, in3 — they make it temptingly easy to spend more than you have. If you cannot pay for something now, you probably cannot afford it.
Want to know what paying later really costs you? See our personal loan comparison tool for transparent costs.
Habit 4: Check your bank account daily
It takes 30 seconds and gives you immediate insight into your finances. You quickly spot anything unusual, unexpected debits and patterns. Use our monthly costs calculator for a complete overview.
Habit 5: Talk about money with those around you
In the Netherlands, we do not like talking about money. But being open with your partner, friends or family helps you make informed financial choices and avoid living beyond your means.
Habit 6: Set financial goals
Saving without a goal is hard to sustain. Saving for a holiday, an emergency fund or a home of your own gives you motivation and direction. Read our tip on setting financial goals.
Habit 7: Learn to say no
You do not have to accept every invitation, deal or offer. It is OK to say: "That does not fit my budget right now." True friends understand.
The financial impact of good habits
Already in debt? Use our debt planner to create a repayment plan.
Conclusion
Financial health starts with small, daily habits. You do not have to change everything at once — start with one habit and build from there. In a year's time, you will look back and be surprised by the difference.
Discover more money tips or explore our comparison tools to find the best deals.
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