Home » Enough Already! 3 Tips To Help You Say Bye To Debt Forever

Enough Already! 3 Tips To Help You Say Bye To Debt Forever

Debt is a huge financial problem that affects most people in the modern world. The fact is, there are so many ways for someone to fall into debt. This makes it very difficult to avoid doing so. But, if you know what you’re doing, you can avoid debt forever.

How can you do this? Well, I have three tips that will help anyone stay clear of debt. Give them a read and use my advice to put yourself in a better financial position.


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Pay Your Credit Card Bill In Full Every Month

Credit card debt is the most common source of debt nowadays. The reason for this is because people don’t know the proper way to use them. More specifically, they get drawn in by the minimum charge. This refers to the minimum amount you’re charged on every credit card bill. So, say you spend $1000 on your card, the minimum charge might be $200. This means you can either pay the full $1000 or pay the $200. As you can imagine, plenty opt to pay the minimum, as it’s cheaper. The problem is, you have to pay that full bill at some point. The more you leave it, the more interest it gets. So, you could end up owing $2000 instead of $1000. Plus, keep paying the minimum every month, and you rack up loads of debt. To avoid this, set up a direct debit and pay your bill in full every month. You’ll incur no interest, and won’t get into debt, ever.


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Be Wary Of Credit Fraud

It’s not uncommon for some people to have their credit details forged and stolen. There are con artists that try and replicate your credit card and make use of your credit score. Credit fraud is a serious problem, as it can land you in loads of debt. Imagine someone steals your card and maxes out your expenditure without you knowing. What you should do is find a credit score monitoring service to help protect you against identity theft. Services like this will keep tabs on your score, notifying you of any unusual changes. This can help you prevent fraud, and stay clear of debt forever.


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Put Money Aside For Emergencies

It’s great to have a substantial amount of financial savings. They can help you out in so many different ways. I often suggest you invest a portion of your savings and try to make more money from it. But, I also think you should put money aside for emergencies. By doing this, you have emergency funds to help pay for things. In theory, you should be able to stay clear of debt if you do this forever. Your emergency fund can pay for things you can’t afford on your bank balance alone. Therefore, you never owe anyone any money, and can be more financially secure.

There’s nothing particularly complex about any of these tips. They’re all very much built around common sense. You have no excuse for not using them; they’re so simple to follow. So, get your head screwed on and wave goodbye to debt once and for all.

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One Response to “Enough Already! 3 Tips To Help You Say Bye To Debt Forever”

  1. avatar AMMA Equity says:

    Really good saving money post.

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