How to Avoid Debts

[Golden9]

It's possible to love without debts, and there are certain measures we can take to ensure this.

One is by creating a budget that is efficient and is within your income. It's also important that you stick to this budget.

Another is to ensure that you have some savings, especially for emergencies as they can come without warning.

 

[Hate2Wait]

We need to have a budget or plan to spend our earnings and when we have a plan to spend then there are higher chances that we won't over spend and will spend as per our requirements only and by following these ways we can avoid debts

 

[LoukiaCharilaou]

It's possible to love without debts, and there are certain measures we can take to ensure this.

One is by creating a budget that is efficient and is within your income. It's also important that you stick to this budget.

Another is to ensure that you have some savings, especially for emergencies as they can come without warning.

It is very important to avoid debts because debts cause stress. So, we must always save some money for a rainy day.

 

[Starmix]

In my case, I cannot avoid debt if there is a business plan that requires bigger capital and I need some to make my plan happen, so I have to borrow some amount from my family, not from a bank it charges more than we ever think.

 

[Shavkat]

You are right. We need to budget things up and anticipate crued expenses. It might be challenging despite the depress economy around the globe brought by this coronavirus.

 

[Starmix]

Borrowing money is not s crime unless swindle it, but if the intention is to capital a small business , the borrower surely be responsible to pay his debt.

 

[Suba]

To avoid debt, first look for additional income, record all income and expenses, make a monthly budget, not consumptive, avoid using credit cards, save and invest

 

[Sanjeev]

I don't like to borrow money. I believe it's good not to borrow money and spend life with what we have. I hate people who use credit cards to fulfil their needs. I never got credit cards in my life as I don't want to get habitual of the credit cards.

 

[Starmix]

I don't like to borrow money. I believe it's good not to borrow money and spend life with what we have. I hate people who use credit cards to fulfil their needs. I never got credit cards in my life as I don't want to get habitual of the credit cards.

I surrendered my credit card. I'm always tempted to do shopping and ending to paying high interest rate. After I surrendered it, I felt relived. I also hate debts. It seems like crazy.

 

[Sanjeev]

Absolutely and that's the reason I never took a bank loan even for a home. But this time I am planning to take a loan from my company as from there I will get the loan without any interest.

 

[Starmix]

That's a wise idea to apply for a loan in your company. Why apply to a bank that charges us so high above the neck. I also apply for a loan in the university coop. I could have big share at the end of the year.

 

[Pokie0324]

In order to avoid debts:

*Avoid being materialistic
*Be contented of what you have
*Don't do loans just for unnecessary things
*Budget properly

 

[Sanjeev]

Yes that's what I though I am planning to buy a property here so I need money for it. I am checking if after taking a loan from the company I may be requiring a loan from the bank or not.

 

[Pokie0324]

Another thing: doing debt for a good business is acceptable just be sure of a higher chance that the business will go boom

 

[fcbetting]

Simple solution: Don't spend more than you earn. Don't spend everything. Check can you pay for maintaince.

 

[Mikky]

In other to avoid debts you have to budget your expenses and also learn to identify you need from your wants, people tends to spent unnecessarily on their wants and even to the extent of borrowing , lastly don't spend beyond your budgets.

 

[Pokie0324]

Do budget list and don't spend money that aren't in the list.

 

[Enxx]

Sometimes debt is not something we can avoid because some situation might come that we make us to borrow money. But one thing is that we must have savings to reduce the debt

 

[Sanjeev]

Yes, sometimes we are stuck in a situation where we have to borrow money. In such cases, we should sacrifice our small needs to save money and try to nullify the debt.

 

[Passiveearner]

It's possible to love without debts, and there are certain measures we can take to ensure this.

One is by creating a budget that is efficient and is within your income. It's also important that you stick to this budget.

Another is to ensure that you have some savings, especially for emergencies as they can come without warning.

I have no bad debts at all. The fact of the matter is that I tend to avoid debt by preventing the situation where I would need to borrow money. This is very crucial. If you want to make sure that you avoid bad debts, never borrow excessive money that may cause serious issues for you.