We all know that in this day and age we are trying to stay out of debt. We have started carrying cash less and less and using a credit cards more and more because it is extremely easy. The amount of money that we have on that little piece of plastic appears endless because we do not keep track of the exact amount. In the days before the credit card, everything was cash and it was easy to know when to stop. We now have credit cards and our debts have only increased, here are some tips to make sure that you stay debt free and manage your resources.
1. When going out with your friends, make sure to carry cash. This will make you pay for everything in cash and limit your spending. When the cash is done, you're done.
2. Monitor your bank statements weekly, it's good to know exactly how much your direct deposits cost. This will prevent erroneous charges from suddenly appearing that you do not know about.
3. Remember to pay a little extra on all your credit card bills, it helps with your credit score and the extra money is directly applied to the credit amount not the interest.
4. Pay your credit card bills on time. The interest accrued is how the big credit companies make money.
5. Start making your own food at home. The amount that is spent on lunch in a lot of states is averaging 10 dollars per meal. Making food at home costs a fraction of that and can be used for multiple meals. A big pot of spaghetti can be eaten for days.
6. Buy things you need, not things you want. Before buying something ask yourself if you need it. Yes, you need that new bathroom towel because your old one is ruined but do you really need that new clock for your mantle.
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