Having debt to pay off is something no one wants, but as the world and infrastructure is growing fast, so are the living expanse and need of finance. This makes it hard or stay out of debt; no matter how much you want to.  

Staying out of debt is simple when said, just don’t spend more than you can afford. But with so many needs, unexpected situations and temptations, it’s very difficult to do so. 

Fortunately, it’s not impossible. and it is something we all should do to maintain our living standards and reach our financial goals. 

And how can you do this? Well we can help you with that. In this article, I’ll share some tips that may help you stay out of it for good. 

Be careful with your money

Life is uncertain and you won’t know what is in stock for you in this life. But one thing is for sure, whatever it is you most probably need money to survive. So be cautious about spending money. Try to form some savings.

The most crucial part in this is creating a proper budget and following it systematically. A budget helps you pinpoint where and how you can cut your expenses but can have healthy lifestyle choices.

So, take out that pen and paper, note down your typical expenses, your income, and start tracking them. After a month, you can start avoiding non-essential expenses, like that new shoe of your favorite brand or daily fast food take away. 

You don’t have to eliminate it completely. Just reduce the frequency. You will be surprised at how much you can save when you do this. 

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Control your swiping

Credit cards are like Titanic. Full of luxury and richness, but in the end, it will make you crash on the iceberg of debt.  people make the mistake of using credit cards to buy things they cannot actually afford.  And when this becomes a continuous practice, you are in the sea of debt. Drowning. 

So what should you do? Simple.

Don’t swipe! Only use the cash you have at hand for your spending. Your mindset should be: think it like ‘if I don’t have the cash, I can’t afford it

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Maintain a good credit score

A good credit score is not just to qualify you for low interest rates on loans and credit cards. It can also help you save on cable TV subscriptions, cell phone plans, and insurance policies.

Yes, it’s true. So, try to maintain a good credit score. You can do this by paying down your debt, paying off your bills on time,  and paying off in full any credit payment you make each month.

And if your score is not good, don’t worry, by paying off the late payments and big credit card balances you can lift your credit score back on track. You will also have to limit new credit inquiries as much as possible.  

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Earn more money

With today’s thriving economy, using some side jobs to your advantage is a good way to earn extra money. Earn some extra cash through writing, part-time jobs, or running errands for relatives. It’s extra work, yes, as long as you are getting extra money, it’s great. It can help you in being debt-free. 


Have some savings, got some extra money, want to spend it, Or give a rise to your monthly budget? 

Absolutely no!! 

Just because you got some extra money you don’t necessarily have to spend it. Then what should you do? 

Invest it! Yes, it not only acts as a means of savings, but it also brings some extra money through profits and interest. Try investing in bonds, shares, savings accounts, mutual funds and so more! 

If you want a loan, there are a lot of options and if you want to save, there are a lot more!! 

Many of these tips can be useful if you are currently in debt,  but they can also help you avoid being in debt in the future, avoid needless credit card use, and get extra earning. Eventually, you can start reducing your debt. Once you are out of debt, follow the tips discussed here and you will be able to stay out of financial disasters and can finally walk towards your financial freedom!! 

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