Living above debt
- Thread starter cherry123
- Start date
Debt is not a good thing. Most people don't like debt but however they found themselves in debt without anticipating it. However for you to avoid debts make sure you live within your means, avoid overspending on luxuries, develope a saving habit and try to stick on your budget.
The best strategy to avoid debt is to never think about borrowing any kind of money at all. This is the only thing you can possibly do.
In our present society, debts seems inevitable because there is always many bills to pay. We are living in a high paced economy where most of times our income is too little to cover our expenditure. Secondly, we stupidly walk into some debts because of our inability to live within our means. The best way to live out of debts to make more money or step down our lifestyle.
This is one of the reason why I don't like making use of credit card because it's always put me in a situation whereby I get myself into a lot of debt that will be difficult for me to pay.
Nowadays I have no debts, although I had them, debts are not really a good thing and one has to try to stay away from them as much as possible, debts can cause a lot of stress, a poor financial situation, bad creditworthiness among others
I do not borrow money. I don't buy things I cannot afford. Never spend more than I earn. But I use credit card a lot to get cash back and rewards. I don't need to any annual fee for my credit card. I often pay my credit card bill on time to avoid paying interest and penalty.
This is very correct because as long as you are so extravagant when you are not making more than what you are spending, you are definitely going to find yourself in a serious financial crisis.
