Having debt in a responsible way, means having debt because of things that have a purpose and enhance your life for the betterment of you and your family. These are things like, buying a home, or paying medical bills. These things can create a more secure environment for your family.

Plastic cards were king

You may have been brought up in a family where plastic cards were used a lot. You parents made sure to give you anything you wanted to avoid the feelings of deprivation that they had felt as children. You may have seen your parents argue about money in front of you and your siblings. This could have had an impact on how you deal with money and your relationships today.

Your Spending Habits

You may be having difficulties with money in your adult life. You may notice that some of your spending habits are similar to your parents. Now you have begun to reproduce the same habits with your own family. As an adult, you are now unsure how to change this.

Unnecessary debt

For many, having debt the adult way includes debts like, buying a home, going back to school to get a better career or maintaining a car. Sometimes your spending habits can get out of hand and you don’t know what is truly needed for your survival. Sometimes these things are just ‘wants’. You need food for your survival, but you do not need a special or preferred kind of food because that would be considered, a want and that puts you in unnecessary debt.

Breaking away

Breaking away from your family’s emotional heritage and how they sabotage themselves with money can be difficult for you in your adult life.
Making changes can cause you to feel emotional, as if you are abandoning your family because you are choosing to break the cycle of what you were taught.

You may logically know that it is good for you to change your behaviour, yet taking the time to be watchful of your behaviour may be demanding for you.

Creating new habits

It may be difficult to do everything you want to do in order to change your ways when having and creating debt. However, with small steps each day, you can create a new and better future for you and your family. Consciously creating new habits may require you to set up small steps that will assist in creating the atmosphere of success. Also, having support from others will ensure that success.

Keep track of your spending

You can start to change your habits by writing down how much you spend and on what, to see where your money is actually going. From that data, you can see where you need to make changes in your shopping more clearly. Paying cash for everything you purchase may also help with over-spending. Allowing a budget or a certain amount of money to be spent each week may also greatly assist you.

Getting help

Getting help from your partner and family can give you the boost you need to get started with your new way of viewing money.

Conclusion: Having responsible debt is a way to build a legacy for your children. Becoming conscious of this, is something you’ll want to teach your children. The way you act can make a difference when breaking the cycle of past difficulties.

Author's Bio: 

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