Staying in Control Once You’ve Paid off Debt


If you’ve gotten yourself into trouble with debt in the past and you are in the process of sorting the situation out, it might seem a little crazy to you right now to think that you will ever fall into the same trap again. Why would you allow yourself to be so reckless, right?

While you may feel this way now, it’s amazing how often people end up in trouble with debt again, once they’re over the trauma of dealing with their problem the first time around. How does this happen? I think part of the reason is that when a person spends such a long time living simply while repaying their debts, when they do eventually manage to repay them, they suddenly find that they have a bit of spare cash again, cash that they can actually spend! So what do they do? They go shopping!

Remembering How Debt Begins

First, you might just decide that you want to treat yourself, to give yourself a pat on the back for all of your hard work in paying off your debt. So, you head to the shops and buy something nice for the home or something nice to wear. When you get home and spend a little time admiring your purchase, however, you realize that you then ‘need’ another item to go with your new buy, something to tie it in with the rest of your home or wardrobe. So, you head to the shops again to buy something else. Suddenly, before you even know it, you’re hooked on shopping again, being taken over by the feeling that nothing is ever enough and there is always something more that you ‘need’. This is a sure-fire way to wind up back in debt, meaning you will eventually have to go through the grind of paying it off all over again!

Avoiding the Trap

So, how can you avoid the trap mentioned in previous paragraph? The answer is simple, by staying in control when you do eventually pay off your debt. Sure, I understand that you might want to treat yourself to something nice once you get your debts repaid, but do your utmost to keep it as just that, a one-off treat. Don’t let that one treat become a catalyst for a new wave of spending that winds up landing you in debt trouble all over again! Once you’ve given yourself a treat and a well-earned financial pat on the back, instead of going on a spending spree, why not immediately switch your mind to bettering your financial position instead by saving some money or investing your spare cash, rather than frittering it all away. That way, if you do see some things in future that you would like to buy, you’ll be able to do it with the cash that you have in the bank, rather than having to turn to your credit cards once again and carving out your financial demise.

To sum up, then, the point that we’re trying to get across in this post is that once you do manage to pay off your debts, it is imperative that you remain calm and stick with the good frugal habits that you have worked hard to develop whilst paying that debt off. Be sure to resist the urge to start living paycheck to paycheck again at all costs! Instead, think about starting to build your financial future by saving your spare cash or even investing it. That way, you won’t find yourself struggling in a battle with debt all over again when you should’ve been coasting towards financial freedom!

Have you ever been tempted to return to your old habits after paying off debt?

2 Responses to Staying in Control Once You’ve Paid off Debt

  1. This can be really tough even if you haven’t had trouble with debt. For me, it was spending everything I earned and not saving enough for an emergency fund. It’s so easy to fall into bad habits, especially once lifestyle starts trying to creep in.

  2. I’ve definitely been there. The temptation is very strong, but having a plan and remaining in control are possible if you keep your focus on the reason you worked so hard to gain debt freedom in the first place.

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