When you are in college or on your own for the first time, it is easy to blow money on going out or partying. Instead of doing that, be fiscally responsible and take care of your finances to prevent your debt.
Get health insurance to secure you and your family’s future. Most of us get sick or need medical attention sometime in our lives. That is the reason it is important that you have good health insurance. Hospital bills can be more than 20K for a few days! With the right insurance, you’ll be covered instead of facing years of debt.
If you’re married then you want whichever one of you that has the best credit to apply for loans. If your credit is poor, build it back up with a new credit card account that you use and pay off each month. Once you both have a good credit score, you can both apply for loans and share your debt more evenly.
If you are experiencing difficulties paying your credit cards, you should refrain from charging them. Cut out unnecessary expenses and find an alternate means of payment to avoid going over your credit limit. Pay down the complete monthly balance before making future purchases with the card.
Try to hold a garage sale, where you can sell all of your unwanted goods for additional cash. You can even sell items for neighbors on consignment. There are plenty of inventive ways to make money at a yard sale.
If you like online banking, subscribe to the alert services offered by your bank. Most banks will inform you via email or text message when certain changes happen to your account. This type of alerts will stop you from overdrawing your account and you will be informed right away in case of fraud.
Many people spend a significant amount of money trying to win the lottery. Instead of doing this, the money should be channeled to serious investments. This would guarantee an increase of money over time, as opposed to throwing money away.
Don’t become overwhelmed by debt. Avoid having unpaid bills and create a shopping list that fits within a good budget to help improve your monthly expenditures. Remember what you’ve learned here so you don’t ever have to deal with debt collectors.