While it may seem difficult to stay out of personal debt, especially if you have been there before or if you have some sort of money spending issues, it is possible to stay in the black and avoid debt problems. For many people, it just comes down to taking the right actions and going through simple steps in order to stay out of debt and stay in the clear during their financial lives.
In fact, here are six simple steps that you can take when it comes to staying out of debt and keeping your money saved, healthy, and more:
Save Money, Silly!
It sounds obvious, but make it a point to do so every month. Whether that means setting aside part of your paycheck (more on that below), or just purposefully dragging money out of your checking account and putting it into your savings account over time, saving money can work wonders when it comes to getting you out of debt and away from trouble for good.
Write a monthly budget
Figure out a monthly budget – living expenses, food, gasoline, and more – and stick to it! Writing out a monthly budget can give you the outline you need so that when it comes to paying for things, you know what you can and can’t afford.
Create an opportunity for splurges
Sure, you’ll want to splurge sometimes, so let it into your monthly budget once or twice every thirty days. Create opportunities for a fun splurge or two, so that no matter what, you can reward yourself and enjoy it without getting too crazy.
Manage your money online
Manage your money up to the minute with your bank by setting up your accounts online and on your mobile phone. You can check your money, tabulate expenses, and more as you figure out how much you can afford to spend and what you should avoid.
Set aside part of each paycheck
Every paycheck, every two weeks, set aside at least 25% of it for savings, if not even more (if possible). Make it so that ever so slowly, you start saving more and more money over time and you stay further and further out of debt in the process.
Get with an accountant or financial planner
If you need to, don’t hesitate to get with a financial planner, an accountant, or somebody else professional who can help you manage your money and get the most out of your savings. They can help ensure you are on a path to saving money and helping yourself over time, and they can work to assist you in any way possible to stay out of debt with tangible, reliable solutions.
All in all, staying out of debt doesn’t have to be complicated or messy. You can do so by making a concerted effort and following these six steps to ensure that you keep yourself above water, so to speak, and that your money won’t disappear before your eyes thanks to bad management. A little preparation can go a long way when it comes to staying out of debt.