By putting some simple strategies into place you can avoid getting into huge amounts of debt.
1. Budget
A weekly, fortnightly or monthly budget allows you to weigh up your expenses, how much you earn and how much you can afford to spend.
2. Find out what your bank charges are.
Some banks charge you for a simple ATM transaction, which can see you in the red at the end of the month. ‘In the red’ means in debt, so be sure that you know what your bank is taking from your account each time you make a transaction. You may be better off changing to a bank with lower bank charges.
3. Don’t spend money that you don’t have.
Sounds simple doesn’t it. Unless you are buying something that will help you generate income, such as a tool for a job or work clothes, ask yourself if you really need it. Fortunately, air and sunshine are still free. So indulge on that.
Avoiding Debt Guide
Check out this guide for how to avoid common ‘debt traps’.
Download the Avoiding Debt Guide
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