How to Avoid and Get Out of Debt
By Ryan Kelly
Avoiding debt can be easy or it can be difficult, it matters how much time you really put in to prevent it. Some tips for avoiding debt are if you have the cash in your hand pay with that. By this I mean don't follow the buy now pay later philosophy because you may forget about this payment later or not have the money when the credit card bill comes and its time to pay. Another tip is make a monthly budget. With this monthly budget made you will be able to see how much money you have left over after paying for your necessities. Knowing the amount left in your budget after seeing your necessities you will be able to how much you are able to spend on wants and what your spending cap is. A quick reminder, always in your budget make room in the necessities for saving because you never know when you are going to be money. Whether it's a family member just passed away and you need to buy a plane ticket to get back home with your family or a sudden event comes up and you need to buy a nice pair clothes for a interview or something in that ball park. Another tip is when you are going to go shopping only bring the money you are able to spend because then you would be tempted by the abundance of money you have in your possession at that time. Another very helpful tip is when you want to buy something, buy it on sale because if you know the item is going to go on sale in two weeks than wait two weeks because if the item is cheaper that means you will have more money to save for later when you really need it. My final tip is avoid eating out. You may have not noticed over the years, but eating out is extremely expensive compared to making home cooked meals for yourself. Always remember to eat healthy also don't waste your time eating unhealthy cheap foods.
Some tips for managing your debt if you have any are start trying to save money. The only way to get out of debt is to have money to get yourself out of it and to get money you need to save. My second tip is that you shouldn't borrow money to get yourself out of debt. I say this because if you really think about it the reason you got into trouble with debt is because you probably bored more money than you had. So, the logical choice would not be to borrow money to get out of borrowing money. Again I am going to recommend you make a budget so you are able to see how much money you will be able to save to get out of debt. The budget will give you all your data in one place. My fourth tip would be to see if you can sell any of your personal items such as jewelry, video games, clothes, etc. If you you sell some of your belongings you would be able to get money to put towards getting out of debt. My final tip would be if you are really having trouble managing debt I recommend speaking to a professional who can help you manage and get out of debt. Never be afraid to seek help.