What do you think are the ways people do nowadays to stay out of credit?
I stay out of debt and keep my credit to a minimum because it’s just easier. I have a bank account and make sure to keep my checkbook balanced. I also make a clear budget each payday so that I know exactly where my money needs to go.
I do have a credit card that helps with unexpected expenses but I still only put as much on there as I can easily pay off in three months time.
It’s not easy to stay out of credit if you already have. The first thing that you need to do is pay your credit. It’s not that easy, of course. But you should be determined to pay it. Start living your life by spending money which you can only afford to lose. If you have a full time job which gives you monthly salary, sometimes twice a month, be very wise. Compute all your credit and divide it into number of months you can pay it. Everytime you receive your salary, deduct the exact amount alloted for your credit. How much is left? Divide this into 2, one for your expenses and the other one for your savings. Don’t forget to save. This is also for you.
For your expenses, allot money for your NEEDS only. Don’t want things you don’t really need. Forget about them.
For your savings, if you deposit them in the bank, make sure you’ll not withdraw your savings after few weeks. Find ways in how you can’t easily withdraw your savings like putting your money in time deposit. You may also invest in stocks.
You are the one who is making your future. Be very wise.
