Congratulations!  You have struggled through living in debt and after years of hard work and sacrifice you are this close to becoming debt free.  What many people don’t realize as they scrimp and scrape to dig out of that deep hole of debt is that once you achieve your goal, the world does in fact keep turning.  Do you have a plan on how you will make the transition from the focus of getting out of debt to focusing on staying out of debt?  Many adults who have lived some or most of their life in consumer debt find this change slightly overwhelming.   There are a few things to consider to avoid falling right back into the debt trap.

If you have successfully fought your way out of credit card or another bad debt situation, you probably already practice some of the following things.  It is important to continue implementing these lifestyle tips to avoid backtracking.

Practice control and moderation in your spending. Do this by putting things into perspective and by recognizing the differences between wants and needs. If you have been living a particularly frugal lifestyle to pay off your debt, you may be tempted to loosen the reins a bit on your spending, however you must remember to not live beyond your means or you will find yourself back where you started.

Have a budget and live accordingly. Be aware of how much income you have available to spend and your expenses. You can better manage your money when you know what you have and where it is going.

Save, save, save. You will likely find yourself in a situation where finances that were previously allotted for debt repayment are now available for spending. Do not forget your struggle. Put some or most of this “newly available” cash into savings. By having a well stocked saving account you will not have to rely on credit in the future for emergencies, holiday shopping or making large purchases. You can also invest this money into your retirement fund or other areas to earn even more money.

Write down your short and long term goals and how you intend to achieve them. A goal is different from a dream in that you actually develop a plan to make it happen. A dream is something you wish for or fantasize about. A goal is something you actively work to achieve. By having a plan you are more likely to be successful.

Use credit wisely-especially important for someone who struggles with credit card debt. In this case, it is best to have only one credit card for emergencies and to not carry the card on your person. Rather keep it in a safe place that is not accessible for “impulse” purchases.

The biggest mistake a person recently out of debt can make is to slip back into their old habits.  Getting and staying out of debt is not just about money, it is a lifestyle change that requires constant financial discipline.  It is possible to stay out of debt, but only if you acknowledge how you got into trouble in the first place.