5 Quick Tips to avoid debt
A recent Press release from Debt Free Direct has shown that less people in the UK are using loans for debt consolidation, which raises the questions - Are there any other simple ways to avoid debt?!
Many people find themselves in debt through circumstances that are beyond their control, but for others, debt can be avoided by following some simple guidelines.
1. Manage your salary.
By breaking down your monthly income and working out exactly how much money you have left over each month will help you to understand how much cash is available for you to spend. Keep a record of what you have spent so you don’t feel tempted to spend money that you do not have.
2. Don’t be tempted
If you cannot trust yourself with a credit card, don’t be tempted to apply for one and if you have any in your wallet, cut them up. Do not have an overdraft facility on your bank account if you feel that you will not be able to stop yourself from using on to buy unnecessary items.
3. Don’t overspend
At certain times of the year, such as Christmas it is easy to spend more than you can afford. Gifts are constantly being advertised, enticing us to part with our cash to give our loved ones nice presents. Your friends and family would not want to see you in debt, struggling for money just so that you could buy them more presents.
4. Shop around
Shop around for the cheapest prices on any major purchases. If you are making an expensive purchase then the amount that you could save by shopping elsewhere could be the amount that stops you getting into debt.
5. Save for a rainy day
If you can afford it, try and put a little bit of money away into a savings account each month. This way, if an unexpected emergency occurs, you will have some money saved up and it may be enough to stop you getting into debt.
Debt means different things to different people, but ultimately, a debt is when you have spent more money than you own. By spending less and saving more, we can all help keep our bank accounts in the black and stop them going into the red.
Comments
3 Comments on 5 Quick Tips to avoid debt
-
Sam Crowe on
Thu, 27th May 2010 6:17 am
-
Emily Jones on
Thu, 3rd Jun 2010 6:05 am
-
Belinda Dawson on
Fri, 4th Jun 2010 7:16 am
Good blog which provides info on how to manage your debt. Well, it is very important that you try to keep track of your credit ratings or else you may fall into debt. If you need funds, it is always advisable to opt for personal loans.
Hi
Just now I have seen your blog.And as a professional financial writer I must congratulate u 4 maintaining such a great blog.By the way I do have some good finance sites & blogs with high PR. So, will you be my healthy link partner. If interested plz mail me emily.jones025@gmail.com
I love to write unique finance articles & after seeing ur site I have written one unique article for ur site. Will u be interested to publish it in ur site along with my link. U r getting it fully free. If u want u can also write for my blogs. As per the offer positive reply expected
Best Regards
Emily Jones
(emily.jones025@gmail.com)
Hi,
I am Belinda Dawson, a webmaster of some finance related sites & blogs wanted to keep a good website proposal for you.
I visited your site, debtmanagementtips.co.uk, which is totally related to FINANCE and I think that the content of your site will be of good interest to the visitors.
I believe that only good content will not help you in gaining the Google values. For that purpose healthy content link exchange or Normal link exchange is essential. If you agree with this we can exchange some articles as well as good links which will provide an extra benefit to our sites.
I wish to utilize this opportunity, because your site is fully related to my topic.
I would appreciate if you place my link within the content to our site and I will do the same. It will give extra mileage to our sites and help to gain some extra values in the eyes of search engines.
If you agree with me please reply me on this email: belinda[dot]dawson1984[at]gmail[dot]com. I have some good offers which can fulfill your requirements,
Looking forward for your positive reply!!
Thanks,
Belinda Dawson
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!
