Millions of Americans are drowning in debt and many of them have no idea how they’ll ever rid the mounds of money they owe to various creditors. Living in debt isn’t a good way to live. It causes unnecessary stress and worry and prevents you from experiencing all the best things life has to offer. Avoid the hassle and use the tips below to help stay debt free.
· Know What You Owe: Make a budget each month. List the debts that you owe and must pay. Include the amount of money you’ll make for the month.
· Pay on Time: If you pay your bills on time, you’ll save money since there are no late fees. You’ll also stay out of debt since the amount owed is not accumulating.
· Don’t Overspend: Spending too much money is the most common way we find ourselves overwhelmed with debt. Don’t use credit cards to spend lavishly. Instead, spend within your means.
· Save Money: Whether its $5 or $50 each week, regularly saving money is important. Include a portion of each check to savings that you do not spend for any reason. Determine the amount you can add to savings once you know what you owe and budget expenses.
· Don’t Use Credit Cards: If you must have a credit card, keep it at a max of one card. Don’t keep it in your wallet and use it only for emergency needs. Choose the best card with no or low annual rates and interest fees.
Preventing debt is the best solution but sometimes it isn’t possible. If you find that you are overwhelmed with debt, take action at once. Debt relief Pittsburgh PA options are out there, but it is up to you to take the first step and find the best solution for your needs.