3 golden rule to avoid new debts

[saoussen5765]

Hello,
The first rule is not to go out from house with lot of money. This will make unecessaries expenses and then you run out from funds and then will borrow to contunie the living. Let some money in the pocket and the rest at house.
The second rule is not get a new debt to pay an old one, this will increase the debt. May there is delay to pay out first debt, but get new one to pay old one.
The third rule is to try to find more work opportunities to increase your income to pay out the debt.

 

[Learners Quest]

There is a golden rule to avoid new debts:

1. Pay your debts in full every month.
2. Use a budget to stay within your limits.
3. Only borrow what you can afford to pay back.

This is important to keep in mind because if you don't, you'll end up in a cycle of debt and you'll be hard-pressed to break free. Plus, it's never a good idea to get into a habit of borrowing money just to cover everyday expenses. That's how credit card debt and other types of debt get started in the first place.

 

[Augusta]

You are right especially on that idea of not leaving the home with plenty money. from my own personal experience leaving the house with more money than you need will bring impulsive buying, buying things that you just sight and was never in your budget this will get you into a new debt.

Another way out which I agree with you is to have a side job that can help you make more money at least with extra means of income you will able to get the basic things that you need without having to get yourself into a debt that will cost you to start owing money.

 

[Nightmare]

Sometimes, you might be wondering and as a result it would cost/lead you to the collection of debts. But have ever thought of knowing the rules abiding it?
Perhaps lack of knowledge on debt rules can lead you to a lot pf dnets most especially if you got noidea about it.
Yeah, just as listed above he I would like to also outline some of the golden rules of debts.
• Pay of a debt before collecting/getting another.
•Avoid taking debts largely. That is, the collection of 3-4 debts at the same time.
•thirdly, psy off your debts as soon as possible .