- Step 1 pay cash
PAY CASH – When buying items, pay cash for them, don’t charge. If you can’t afford it right then, save your money and buy the items when you can.
- Step 2 avoid using credit cards
NO CREDIT CARDS – Don’t let yourself get buried up with a bunch of credit cards. They will only add to your monthly bills and you may have the gratification right then of what you’re buying, but you will pay for it down the line by having less money later.
- Step 3 be responsible with your spending
BE RESPONSIBLE – If you decide to have credit cards, use them responsibly. Try to only use them in an emergency and not on frivolous items and only spend what you can afford to pay back right away so you can avoid any finance or interest charges. Being responsible in all aspects of your spending whether with cash or credit is a good idea.
- Step 4 plan a savings strategy
PLAN A SAVINGS STRATEGY – There is no better way to avoid and stay out of debt than by having a sound savings strategy. It only stands to reason, that if you save your money, you will have money and won’t need credit or have to go into debt.