If you’ve just paid off a boatload of debt, congratulations! This is a huge achievement, and it’s one you should feel free to celebrate. But a lot of people hold off on doing just that – why? Because they’ve lost all their confidence in the financial world. 

And it’s hard to blame anybody who can’t look at a credit card the same way anymore. However, you need to get your money confidence back, for the sake of your own mental health. To help you do just that, we’ve listed some tips below that might just do the trick for you. 

Track Your Spending

The best thing to do right now is set up a spending journal. You can then use this to track your spending every single month. You can mark what goes out compared to what comes in, and have a detailed record in front of you that you can access any time you need to. 

Being able to refer to a document like this will make such a huge difference with your money confidence. You won’t have any money surprises creeping up on you, and you can start to set clear boundaries with your spending. 

Work on Your Credit Score

Now you’ve cleared your debt, you’ve got a very good chance to improve your credit score. It’ll take a little while for your credit report to truly clear, yes, but you can call right now to make sure the big numbers are no longer damaging your history. 

Once you do, you can start to apply for small lines of credit again, such as heavily limited credit cards or pay-monthly phone contracts. Spend a bit here and there, and then pay back within a couple of days, to give your credit score small but important boosts. 

Do Your Research

It’s best to do financial research before going into any kind of agreement. However, this is especially true if you want to start investing in the near future! You need to know what you’re getting into, study the market trends, and only work with trusted brokers and advisors. 

Get to know the big names, such as Hussain al Nowais, and get to know those operating in your local area as well. The more you know about where your money goes, the better you can control it, and that sense of control is what grants confidence. 

Remember How Far You’ve Come

Most of all, remember that you’ve paid off the big debt you were carrying. You’re now in the shoes of someone living debt free, and that should be a huge boost to your financial wealth and confidence. You’ve been through it and come out the other side, and you’ve got all the time in the world to improve your credit standing across the board. That matters more than anything else at this crucial time in your life. 

You’ve paid off the debt! Combine this mindset with the other tips here to set you on the right track.