Now You've Conquered Debt...Understand How To Prevent A Debt Relapse

A beautiful feeling of relief comes after you've destroyed the all of the debt you owe. Be happy that you've accomplished this, but beware. Some people who've just recovered from their debt are quick to get back into debt. And if you're one who tends to get into debt trouble, chances are you may be exposed to the same temptations to spend, and the same desires to pull out your credit cards without thinking about tomorrow. You see, personal finance budgeting is all based on discipline.

For those who do slide back, self-destructive habits kick in again so they can support their old lifestyles. Often these people are aware of a sense of disconnect between their finances and the world they want themselves to believe they should have. Existing in a kind of fantasy world, they keep on spending what comes to them without realizing how much more a discomfort it is to be buried in debt than to not have expensive things.

Racking up lots of debt is a problem a lot of Americans face. Owing over $800 billion in revolving debts (excluding car loans and mortgages), a lot of them are lower and middle class family members. The spectrum includes those who really need the borrowed money (the disease-stricken mother whose credit cards cushion her medical bills; the breadwinner father trying to find a job) and those who just spend more than what they earn.

Priorities mean priorities. Any time you make out a personal budget spreadsheet, it has to be based on a plan you can stick to, and will subscribe to, even though your desires pull at you to abandon the plan. The act of setting aside money for specific bills isn't any different from the act of carrying out the payment of those bills, and not spending the money for other things... like designer clothes.

Be aware of your purchasing impulses. Only you can really get to know and accept your behavior, and how you deal with your desire. Being a tightwad and dollar burner are two ends of the spectrum of money-related behavior. It's in the brain. When you know certain purchasing trends have an effect on you, avoid them. There's bound to be something that will keep you busy enough to be distracted from impulse purchasing. Try other hobbies. Stay away from malls. Put down that magazine when you see tempting sales and ad promos. If you cannot absolutely remove yourself from enticements, you have to decide to trim down the cost.

Always try to enroll in automated payments for your regular bills, so you don't see excess unused cash and be enticed to spend it. The good thing here is that since a portion of your money is already deducted and channeled into needed payments, you won't have to decide on where to spend such money. This default spending decision is really what keeps you from thinking about overspending, or misspending.

Divide your personal budget spreadsheet into different categories -- cable, gas, etc. That way you can see just how much you spend for each category and how much is left over after you pay them all off. Just seeing this allows you some amount of control.

Who else is concerned about your future? When do you want to retire, and then, what will you do? Have you figured out your kids' educational budget? You need to put up money while you can; that way, like a squirrel during winter, you'd have no problems about money.

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