{"id":3558,"date":"2016-05-12T16:00:00","date_gmt":"2016-05-12T20:00:00","guid":{"rendered":"https:\/\/goday.ca\/blog\/?p=3558"},"modified":"2021-09-30T11:05:33","modified_gmt":"2021-09-30T15:05:33","slug":"money-habits-you-need-to-break-to-get-out-of-debt","status":"publish","type":"post","link":"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/","title":{"rendered":"Money Habits You Need To Break To Get Out Of Debt"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-3538 size-medium\" title=\"Money Habits You Need To Break To Get Out Of Debt\" src=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-30-at-7.32.07-PM-300x187.png\" alt=\"Money Habits You Need To Break To Get Out Of Debt\" width=\"300\" height=\"187\" \/><\/p>\n<p>We all have them, those financial habits that we wish we could break, especially when it comes to tackling debt. But when it comes to debt management, it\u2019s changing your thinking when it comes to spending. That\u2019s why we created a list of the most popular money habits we hear about that are holding people in debt and how to break them.<\/p>\n<p><strong>Minimum Payments<\/strong><\/p>\n<p>We\u2019ve talked about <a href=\"https:\/\/goday.ca\/blog\/using-your-credit-card-wisely\/\">using your credit card wisely<\/a> before, because if you\u2019re making minimum payments, most likely you\u2019re just paying interest from bill to bill and not actually tackling your debt, but accumulating more debt. Getting out of the habit of making minimum payments is one of the best ways you will start to see your debt disappear. So next time your credit card bill comes in, budget wisely to take that first step in managing your debt.<\/p>\n<p><strong>Impulse Purchases<\/strong><\/p>\n<p>Is it something you want or something you need? Or are you one of those people that don\u2019t read the price tag when you see something you like? When it comes to spending, staying within budget is key for debt management, which doesn\u2019t happen when you spend sporadically. As much as you can try justify your spending, this is how marketers and retailers make their money off of you. There are many tips on how to avoid impulse purchases including sticking to your list and avoiding the mall that can help you avoid unplanned spending.<\/p>\n<p><strong>Not Keeping Track<\/strong><\/p>\n<p>Are you paying attention to your spending habits? What budgets do you currently have in place? There are many things you need to start keeping track of to ensure that you\u2019re not spending more than your making and that you\u2019re tackling your debt head on. We\u2019ve talked about <a href=\"https:\/\/goday.ca\/blog\/keeping-a-spending-journal\/\">why you should be keeping a spending journal<\/a> and breaking down your where your money is really going for better money management habits.<\/p>\n<p><strong>Not Saving<\/strong><\/p>\n<p>Are you one of those people that no matter how hard you try you\u2019re <a href=\"https:\/\/goday.ca\/blog\/five-reasons-youre-unsuccessful-at-saving\/\">unsuccessful at saving<\/a>? Saving is one of those things that need to become a habit\u00a0and is much easier said than done. Taking a step back and evaluating your spending is the first step\u00a0because you can\u2019t start saving when you don\u2019t know what you\u2019re spending. Once you\u2019ve taken a good look at your finances, there are many fun ways to start <a href=\"https:\/\/goday.ca\/blog\/turn-saving-money-into-game\/\">playing the saving game<\/a> so you can see results.<\/p>\n<p><strong>The Little Things<\/strong><\/p>\n<p>It\u2019s always the <a href=\"https:\/\/goday.ca\/blog\/things-you-shouldnt-pay-extra-for\/\">little extras and add-ons<\/a> that seem to add up the most. We\u2019ve gave you our tips on how to prepare for <a href=\"https:\/\/goday.ca\/blog\/how-to-time-big-purchase-spending\/\">big purchase spending<\/a>, but it\u2019s the everyday and unexpected expenses that always seem to throw a wrench in any budget. But it is about creating that wiggle room in your budget for things that may pop up, all while be aware of what you are spending your money on and making sure you\u2019re not <a href=\"https:\/\/goday.ca\/blog\/things-you-shouldnt-pay-extra-for-part-two\/\">paying for those extras<\/a>.<\/p>\n<p>Are you ready to get out of debt? Let us know your money management tips below.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We all have them, those financial habits that we wish we could break, especially when it comes to tackling debt. But when it comes to debt management, it\u2019s changing your thinking when it comes to spending. That\u2019s why we created a list of the most popular money habits we hear about that are holding people [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3538,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[9,10,11],"tags":[675,793,1148,1424,1592,1629],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Money Habits You Need To Break To Get Out Of Debt<\/title>\r\n<meta name=\"description\" content=\"We created a list of the most popular money habits we hear about that are holding people in debt and how to break them. 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Read it now!\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/\" \/>\r\n<meta property=\"og:site_name\" content=\"GoDay Cafe\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/GoDay.ca\" \/>\r\n<meta property=\"article:published_time\" content=\"2016-05-12T20:00:00+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2021-09-30T15:05:33+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/goday.ca\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-30-at-7.32.07-PM-e1463082915546.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"797\" \/>\r\n\t<meta property=\"og:image:height\" content=\"497\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"GoDay.ca Customer Education Team\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@GODAYca\" \/>\r\n<meta name=\"twitter:site\" content=\"@GODAYca\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GoDay.ca Customer Education Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/\"},\"author\":{\"name\":\"GoDay.ca Customer Education Team\",\"@id\":\"https:\/\/goday.ca\/blog\/#\/schema\/person\/5dd4477e7fa335c98b4ab9e4af1a2c3d\"},\"headline\":\"Money Habits You Need To Break To Get Out Of Debt\",\"datePublished\":\"2016-05-12T20:00:00+00:00\",\"dateModified\":\"2021-09-30T15:05:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/\"},\"wordCount\":532,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/goday.ca\/blog\/#organization\"},\"keywords\":[\"Debt\",\"Finance\",\"Money\",\"Payment\",\"Saving\",\"Spending\"],\"articleSection\":[\"Life\",\"Money\",\"Saving\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/\",\"url\":\"https:\/\/goday.ca\/blog\/money-habits-you-need-to-break-to-get-out-of-debt\/\",\"name\":\"Money Habits You Need To Break To Get Out Of Debt\",\"isPartOf\":{\"@id\":\"https:\/\/goday.ca\/blog\/#website\"},\"datePublished\":\"2016-05-12T20:00:00+00:00\",\"dateModified\":\"2021-09-30T15:05:33+00:00\",\"description\":\"We created a list of the most popular money habits we hear about that are holding people in debt and how to break them. 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