Think ahead. Here are a few tips about how to avoid more debt.

With the rising cost of living, it is can be a challenge to avoid the debt trap. However, with
careful planning and foresight, it can be done.

Staying out of debt is possible. Avoiding more debt is a sensible plan.

Following a few tips can help you stay in control.

• If you cannot afford to pay for it without your credit card, rather not buy it. One of
  the easiest ways to get stuck in a debt trap is by using your credit card for purchases
  that are more ‘wants’ than ‘needs’. Bear in mind that if you cannot pay cash for the
  item, then you can’t afford to buy it with a credit card.
• Focus on what you need rather than what you want. Decide what you need to spend
  your money on. An example is the coffee you buy each morning on the way to work.
  Is it really necessary to pay for a pricey coffee when you can bring your own from
  home?
• A budget always makes sense. When you create a budget, you can easily track where
  you are spending money. It is also a sensible idea to put aside a little of your money
  for an emergency fund for when times are lean.
• Cut down on the number of store cards you have. It really isn’t necessary to have a
  store card for every fashion outlet. If you cannot pay for the item you want in cash, it
  is also likely that you don’t really need it. If you must have a store card, save it for
  emergency purchases only. When you have a couple of store cards in your purse, the
  temptation to splurge on the store’s latest specials can be tempting.

One of the hardest things to do in today’s world is limiting yourself. Spending money has
become one of the most popular temptations today. By following a few simple guidelines,
you can limit the amount of debt in your life – and ensure that you avoid future debt.

For assistance with avoiding future debt, speak to a consultant at One Debt today.