13 Habits That Kept Me Stuck in Debt for Decades

Debt can feel like it’s always hanging over you, no matter how hard you try to get ahead. I spent years stuck in the same cycle, making mistakes that slowed me down without even realizing it. Some were small habits, others were bigger patterns — but all of them held me back. Here are thirteen things that kept me in debt for way too long, and what changed once I let them go.

Living Above My Means

For many years, I lived in a constant state of spending more than I earned. I convinced myself that I “deserved” the finer things in life, like expensive clothes, eating out, and the newest iPhone model. This mentality kept me in a cycle of debt, using credit cards to finance a lifestyle I couldn’t afford.

Once I realized I needed to live within my means, things started to change. Living below my means was the first step toward taking control of my finances.

Using Credit Cards as a Cushion

I relied on credit cards as a safety net, thinking I could always pay them off later. But, the problem was that I only paid the minimum balance, and the interest kept accumulating, making my debt grow even faster. I was stuck in a cycle of borrowing and never fully paying off my balance.

Now, I avoid using credit cards unless I can pay the balance in full every month.

Not Having a Budget

I went for years without tracking my spending or creating a budget. I thought I could just “figure it out” as I went along, but without a clear plan, I was constantly overspending. The lack of budgeting meant I had no control over where my money was going.

These days, I track my income and expenses every month, making sure my spending aligns with my financial goals.

Only Making Minimum Payments

For too long, I made the mistake of only paying the minimum on my loans and credit cards. While this kept my accounts in good standing, it didn’t reduce my debt fast enough, and the interest kept piling on.

Once I switched to paying off more than the minimum, my debt started to decrease more quickly. Now, I always aim to pay off more than just the minimum whenever possible.

Buying Things to Keep Up With Others

There was a time when I bought things simply to keep up with friends or to fit in with others. I’d make purchases based on social pressures or comparisons with others’ lifestyles, often buying things I didn’t need. This habit led to more debt than I could handle.

I’ve since learned that it’s important to focus on what I truly value, rather than trying to impress others.

Not Saving for Emergencies

I spent years ignoring the need for an emergency fund, thinking I could handle any unexpected expenses as they came. When life threw a curveball—whether it was a car repair, medical bill, or job loss—I had no savings to rely on and ended up going deeper into debt.

Now, I prioritize saving a small amount every month to build and maintain an emergency fund for those unexpected moments.

Believing I Could Fix My Debt Later

For years, I pushed the idea of paying off debt to the back burner, thinking that I’d deal with it “later.” I kept putting it off, thinking I could earn more money or win the lottery to make it all go away. The truth is, the longer you ignore your debt, the bigger it gets.

It wasn’t until I made a concrete plan to pay it off that things started to improve.

Impulse Buying Without Thinking

I was notorious for impulse buying—anything from a new outfit to a gadget I didn’t need. These spur-of-the-moment purchases quickly added up and contributed to my growing credit card balances.

Today, I give myself a 24-hour rule before making any non-essential purchase, allowing me to think it through and avoid impulsive spending.

Avoiding Conversations About Money

For a long time, I avoided talking about money with anyone—friends, family, or even my partner. I felt embarrassed by my financial situation, which only made the problem worse.

I’ve since learned that talking openly about money is essential to taking control of it. Having these conversations has helped me make better financial decisions and hold myself accountable.

Relying on Loans for Convenience

Whenever something went wrong, I relied on personal loans or payday loans to get by. It was an easy fix in the short term, but it always led to more debt in the long run, especially with high-interest rates. Now, I save for larger purchases or use a savings account to cover emergencies rather than taking on more debt.

Not Taking Advantage of Employer Benefits

At one point, I wasn’t fully aware of the benefits offered through my job, like retirement contributions or health savings plans. By not taking advantage of these programs, I missed out on valuable opportunities to save and build wealth.

I now contribute to my retirement plan and make sure I’m utilizing all the benefits available to me.

Letting Debt Collectors Stress Me Out

When I got behind on payments, I allowed debt collectors to stress me out and avoid dealing with them. This only made things worse, adding late fees and further harming my credit score.

Once I faced the situation head-on and set up a payment plan with my creditors, I was able to reduce the stress and make progress on paying off my debt.

Not Tracking My Net Worth

For years, I avoided tracking my net worth, thinking it was just a number that didn’t matter. But by ignoring it, I had no real understanding of where I stood financially.

Once I started tracking my assets, liabilities, and net worth, I could clearly see how my debt was impacting my financial situation. Now, I regularly review my net worth to stay on top of my financial progress and make better decisions.

Breaking Free From Old Habits

The habits that kept me stuck in debt for so long weren’t easy to break, but with time, discipline, and a shift in mindset, I managed to get on the right track. If you find yourself in a similar situation, know that it’s never too late to break free from old habits and take control of your money.

5 Crucial Tips To Pay Off Debt Fast and Live Debt-Free

Money touches every part of our lives, impacting our decisions, relationships, and mental health. But if you’re in debt, you’re not alone, and you can turn your finances around. Getting out of debt quickly is possible if you take the proper steps. These 5 Habits Will Help You Pay Off Debt Fast and Live Debt-Free