Smart Finance: How to Avoid Debt Relapse After Becoming Debt-Free
Staying debt-free requires new habits and a strong financial mindset. Here’s how to maintain your progress.
What Is Debt Relapse?
Debt relapse happens when individuals fall back into debt after becoming debt-free due to poor financial habits or unexpected expenses.
Preventing a Return to Debt
- Keep budgeting even after you’re debt-free.
- Maintain a strong emergency fund.
- Use credit responsibly, if at all.
Strengthen Your Financial Mindset
Reinforce the reasons behind your debt-free journey and continue setting new financial goals.
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