10 Inspirational Quotes to Help You Get Out of Debt and Stay Out

Do you need some money motivation? Fortunately, there are tons of helpful quotes that can give you the boost you need to get your finances in order. Managing your finances can be tedious, but when you reframe your approach, it can become empowering. The right words can transform your thinking and your money.

Each day get into the habit of shaping your thoughts by reading encouraging sayings to help you refocus your money goals. It won’t be long before you see the results. Here are 10 inspirational quotes to help you get out of debt and stay out.

1. ‘The safest way to double your money is to fold it over and put it in your pocket.’ —Kin Hubbard

Man with money in pocket

The easiest way to save money is to keep it in your pocket | iStock.com

If you want to see more of your cash, the easiest way to do that is to not spend it. Save your cash for a rainy day instead of spending indiscriminately and then wondering where all your money went. Although not spending your money seems simple, this money move can provide you with a much needed cushion during tough financial times.

You might be tempted by sales or a desire to look a certain way and have the things your friends and acquaintances have. But it will benefit you in the long run if you think about your future self. What kind of life do you want to live? How are your current habits drawing you closer or further away from your goals? Ask yourself these questions each time you’re about to make a purchase you’re not confident about. If you feel some hesitation, it’s probably because you shouldn’t be making the purchase. Trust your gut.

2. ‘A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.’ —Suze Orman

Man relaxing on the beach with laptop

Get your finances in order, so you can stop worrying and enjoy life | iStock.com

You can’t just wish you didn’t have debt. It’s important to take action and do what it takes to make your financial dreams a reality. What do you need to do financially so you can be worry free when it comes to the “what-ifs” of life? Take some time to write down your financial goals, and map out what it will take for you to achieve financial freedom. Think about what you need to improve, so you can live the life you want. Once you get to the place where you can truly say you are worry free, you’re financially free.

3. ‘Budgeting has only one rule: Do not go over budget.’—Leslie Tayne

young couple figures out their budget together

Make a commitment to stick to your budget | iStock.com

A little self-control and the right mindset can go a long way. A simple way to stay within your budget and keep debt as far away from you as possible is to make an effort to stick with the budget you’ve set. Part of the secret to staying within your budget is believing you can stay within your budget. Have the right money mindset. If you keep telling yourself you don’t have enough willpower to stay on track with your finances, don’t be surprised when you blow your budget in just a few days.

4. ‘When you know the impact of little expenses, you will realize that there is nothing little in this world.’ —Manoj Arora

Woman taking money out of her wallet

Every purchase counts | iStock.com/dolgachov

It’s the small expenses that can add up to big debt over time. Take a moment to track your spending for at least 30 days, so you can see exactly where your money is going each month. You’ll be surprised to see how the smaller purchases you don’t pay much attention to are slowly eating away your wealth. Resolve to be more mindful when it comes to everyday purchases. You’ll see the difference in your bank account.

5. ‘You don’t have to be a miser, just be wiser with your money.’ —Dorethia Conner Kelly

man with money in briefcase

You can enjoy life without being a tightwad | iStock.com

You can save money and enjoy life at the same time. Achieving financial freedom doesn’t mean you have to deny yourself to the point where you’re miserable, walking around with holes in your shoes and eating canned beans for dinner every night. You can have an excellent quality of life while squirreling away cash for a rainy day. This can be done by looking for bargains, as well as knowing when to keep your money in your wallet. (A sale item isn’t really a deal if you don’t need it.) It’s not necessary to choose frugal living over quality of life. You can have both if you know when and where not to shop.   

6. ‘Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest.’ —Dave Ramsey

 couple embracing on the beach

Do you have financial peace? | iStock.com/dmbaker

One of the basic keys to building wealth is living on less than you earn. Just because you can afford to buy something doesn’t mean you should. If you have trouble living on less than you make, one way to get into the habit is to practice separating needs from wants. Before you make a big purchase, ask yourself, “Do I need this, or do I just want it?” This will give you time to pause and really think about how you’re handling your money. Always think before you spend.

 7. ‘Never spend your money before you have it.’ —Thomas Jefferson

man with empty pockets

Your money isn’t yours until it’s in your bank account | iStock.com

Just because you’ve been promised a bonus or a pay raise doesn’t mean it’s a guarantee. Don’t get caught up in a credit lifestyle in anticipation of extra funds to cover your purchase. If you don’t have the money to make a purchase, don’t automatically charge it on your credit card and assume you’ll be able to pay off the purchase once you get paid. What if you lose your job? What if you end up having a financial emergency that requires you to redirect your funds? Make sure you have enough money before making a purchase, no matter how small it is. This way, you won’t be caught off guard when an emergency comes up.

 8. ‘Before you spend, earn. Before you invest, investigate. … Before you retire, save.’ —William A. Ward

couple walking together

You’ll have a better quality of life if you think before you spend | iStock.com/monkeybusinessimages

Preparation is key. A big part of staying out of debt and attaining financial freedom is preparation. This is especially true when it comes to saving for retirement. Save now, so you won’t be forced to rely on credit and family members for help.

One way to prepare for life after work and keep debt under control  is to contribute to your retirement plan as soon as possible. Even if you don’t make a lot of money, contribute what you can. Waiting too long will require a lot more effort to catch up later on. Another thing you want to do is pay down big debts well before you call it quits. The last thing you want is to still be paying off significant debt — such as a mortgage, high-interest credit cards, or student loans — while you’re trying to enjoy your golden years.

9. ‘Make sure that you haven’t lost the things that money can’t buy.’ —George Lorimer

young family taking selfie

Don’t put things before people | iStock.com/shironosov

Don’t go into debt to acquire material possessions, only to lose connections with the ones you love. Don’t let your new toys occupy your time to the point where they become more important than your closest friends and family. At the end of the day, material possessions can’t keep you warm at night or give you a hug and hold your hand when you’re in distress. Preoccupation with the appearance of wealth isn’t worth losing touch with what matters most.

10. ‘Don’t tell me where your priorities are. Show me where you spend your money, and I’ll tell you what they are.’ —James W. Frick

hands of a young woman using mobile phone

How you spend your money will show you what your priorities are | iStock.com/imtmphoto

Are your priorities out of whack? The quickest way to tell is by paying attention to how you spend your money. Financial management involves much more than how much you have in your bank account. The way you spend your money also reflects your values and can even point to unmet emotional needs.

If more of your money is spent on making yourself happy than enriching the lives of others, this could tell you something. And if your spending habits show you’re self-absorbed, you’re more likely to go into debt and have unfulfilling relationships. Spending more money on yourself won’t necessarily make you happy. Are you digging yourself into debt because you’re attempting to fill a void in your life with things instead of relationships? What you might not realize is you’ll just continue to spend more and more because this isn’t possible.

Follow Sheiresa on Twitter @SheiresaNgo.

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