Posted on
September 15, 2009
at
11:03 pm
how can i go about preventing debt from happening? what precautionary meausures do you suggest?
Posted on
September 16, 2009
at
2:14 am
On preventing debt:Well some life circumstances cannot easily be prevented, such as a death in the family, illness, or job loss, but acquiring debt can be an obstacle in one's life that can be prevented in spite of the things happening in their life. Making timely payments is one. Having an allotment of funds for the bills that need to be paid certainly goes a long way.
Posted on
September 16, 2009
at
4:01 am
First of all, you need to keep track of your finances. Relying on receipts and your bank’s website aren’t enough to do the trick. You can keep a separate ledger handy or use financial management software to take note of all your expenses. Also, making it a habit to regularly balance your checkbook helps to see if you still have funds available on your account. If you pay your bills electronically not having enough funds on your account may result to a bounced check AND incurring a debt with your creditor.
Posted on
September 16, 2009
at
4:20 am
Also one way on preventing debt is not to go too near your account's credit limit. If the going gets tough and your account gets over the limit you may not only be paying for your balance, but an over-the-limit fee on top of that...
Posted on
September 16, 2009
at
5:10 am
Preventing debt entails enormous amounts of self-discipline. Impulsively swiping and borrowing and spending will result to a lot of stress and discontentment on your end. Sure it may give you a high whenever you have everything that you want
right now, but one also needs to take their future into consideration. "Do I have enough to pay for this?" "Do I need this or just want this?" "Do I need this
right now?" Here are some questions that are worth reflecting on especially in terms of expenses.
Posted on
October 7, 2009
at
12:26 am
But is preventing debt even possible? I've not proud to say this but I've been in it for as long as I can remember.
Posted on
October 12, 2009
at
7:41 pm
Definitely, Aggie May--establishing a budget and
sticking to it is the simplest and I think the most primary way of preventing debt.
Posted on
October 14, 2009
at
3:21 am
One simple step in preventing debt that has personally helped me establish my budget is segregating my income into properly labeled envelopes. What I did was allot certain amounts into these envelopes--one would for Rent, another for Gas Money, yet another for Clothing Expenses, and so on. I was less inclined to use the money on the other envelopes because I knew that they were allotted for these categories accordingly. In the same way, I was also less tempted to use the money on other envelopes.
Posted on
October 16, 2009
at
1:03 am
Preventing debt boils down to one word:Discipline.
Posted on
October 20, 2009
at
3:52 am
How does one go about preventing debt after major financial meltdowns?
