Common Sense Ways to Avoid Debt

Are you looking for some good ways to avoid debt? Most people have some sort of debt, and it can’t always be avoided, but there are ways to limit your debt levels. If you are savvy with your money, you will find that a lot of the ways to avoid debt are fairly common sense in nature. What are some of the ways that you can avoid debt?

The first way that you can avoid debt is to simply live within your means. If you know that you cannot come up with the payments for something, you should simply avoid it. Either that, or wait until you have the money to purchase it. Don’t think that you will magically have the money for it, or risk going deeper into debt to make payments on an ill advised purchase.

Limit your use of credit lines. This will not only save you from making unnecessary payments, but it will save you from interest payments as well. You might think that credit cards are easy money, but you will have to pay the piper at some point. Why not just avoid that hassle and only put on a card what you could pay back within 60 days at the most?

Find the cheapest car, house and student loan that you can possibly find. This might not sound like a lot of fun, but buying a 500 dollar car is a great way to avoid a car payment for another year or two if it runs well. Having a roommate might seem like an invasion of privacy, but it will keep housing costs down. Either that, or you could live with your parents for a little while to eliminate rent altogether. Use community colleges as a way to keep education costs down.

Learn how to cook, don’t take too many trips and enjoy the scenery around you. If you can learn to cook, it will save money that would go toward paying for dinners and tips for waiters. Staying at home for vacations will allow you to save money on hotels, gas and money spent on souvenirs from your trip. 

There are many ways that you can save money on your expenses and stay out of debt. It is up to you how much debt you can avoid by the choices you make. Don’t abuse credit cards and live within your means. If you can do this, you will find that you stay away from debt pretty easily.