3 Tips for Avoiding Debt

Ever since the popularity of credit arose in the 1920s, our culture has had a hard time staying out of debt.  And, the fact that entire industries are built around your debt makes it even harder to stay debt-free.  However, you can do it!  If you’re serious about avoiding debt, check out these 3 tips on avoiding debt – with some debt negotiation bonuses!

The List of 3:

1.  Don’t carry a credit card.  If you would like to have a credit card in order to boost your credit score, fine.  Just leave it at home, and only use it to pay pre-determined bills.  For example, you might want to use a credit card to pay your utilities every month, but limit its usage to just those three or four bills.  When you don’t have a credit card with you out shopping, you’re far less likely to over-spend!

2.  Determine a budget.  Households that create and adhere to budgets are far less likely to go into debt!  Make sure your budget is reasonable, and that you stick to it in order to really get the results.

3.  Hold off on a mortgage! Home prices are expected to rise this year.  However, don’t let statistics cloud your vision.  You shouldn’t take on a mortgage unless you are fully confident you can pay it.  And, you should always have a backup plan (3-6 months) on how you will pay your mortgage should you suddenly become unemployed.

Bonus: If you’re already in debt, look into debt negotiation options.  Consolidating debt and focusing on a payment plan can help you get out of debt quickly.  Plus, it will help inspire you to live a long life of avoiding debt!