One of the scariest words to me is "debt"!
*Jaws music plays in the background*
Seriously, being in too much debt is a looming, scary thing that everyone should try to climb out of or just avoid. While I don't have a mortgage (yet!), I definitely do have a student loan I'm still paying back. And a credit card, of course. It may sound like common sense, but here are a couple easy ways I've learned to manage my debt:
- Find my total. By adding up everything I owe, I know exactly how much I'm dealing with, which makes it so much easier to figure out a monthly payment plan.
- Pay my credit card off on time. Why subject myself to late fees? Or maybe even a higher interest rate? No thanks!
I also try to plan ahead and change my spending habits in order to prevent adding even more debt. For me, it's about buying one less item at that cute little boutique if I need to cut something out. Not to mention those extra accessories or nifty cool iPads! I can always save up for and buy those things in full.
Remember: Just because the thought of being in debt over your head is scary doesn't mean that there aren't ways to avoid and get out of it! Where there's a will, there's a way, right? Your main weapons are planning, saving and budgeting!
Have you ever had found yourself in too much debt and had to dig yourself out? How'd you do it? Share your story with us!