Why is it that most of us have credit card debt, and have to consider loan after loan, to keep us from sinking, into the well of debt? The answer is simple. We do not believe in personal financial restraint and do not keep to a budget.
Do not spend more than you can earn.
Why is this important? Why can’t I make use of loans and credit cards that are readily offered to me? After all what purpose would they serve otherwise? The answer is simple. When you chose to spend beyond your means, you start to spend your savings. This hurts your financial planning and puts your family at risk.
- Stop building your debt.
- Reduce credit card usage.
- Use your debit card if you have to or purchase your day to day expenses with real money.
- Stop taking credit at your regular breakfast joint or any other place where it is easily available.
If it is easier for you to budget with cash….
- Label different envelopes with gas, groceries, etc.
- As soon as you do that go and use that money right away for those necessities. This way you will not over spend.
Pay bills online…..
- You can set up an account to have your bills automatically taken out when they’re due. This way bills will always get paid on time and you can see how much money you have left over for other necessities.
Download a Free App on your phone….
- Sticky note widget, excel file widget, anything where you can put all of your bills on the home screen of your phone. This way you will be able to look at your budget everywhere you go and every time you look at your phone you’re reminded of your budget.