How do you control debt addiction?

[Stardom22]

In most cases taking loans can be very addictive especially when one takes loans and pay as they get salaries. ln this situation it's very difficult for one to get over with debt. So what is the most recommended way for one to use to get over with loans?

 

[Suba]

Although personally I have no experience to overcome debt addiction, but in theory I can understand, the first you have to do is change the mindset, aware of the risk of debt and committed to changing your lifestyle, do not take new debts, immediately pay off your debts, create financial plans and personal budget.

 

[eLdavis]

You have to discipline yourself to develop a habit of learning how to make well informed financial decisions

 

[Augusta]

Managing debt is focusing on what you can control: developing habits, learning, and committing to making well-informed financial decisions.

 

[Springtime]

It's sad when the person is addicted to getting loans. That will make him/her never get out of financial struggles. To get rid of this addiction, the person needs to be determined, change the mindset or get someone to help with creating a financial plan.

 

[Nomad]

This is really easy if you can control your temptation of buying things you don't need and live under your means.