Debt, obviously, is a burden that most people don’t want. After paying all the debt in the old year, a lot of people promised to themselves that they won’t never ever get back this financial trouble again. However, just a few ones could keep their words. Without the financial knowledge that may bring you a huge source of income or the proper payment schedule, debt along with its stress, pressure could totally ruin somebody’s life. To avoid debts, there are two things people who are debt-free never do.
Don’t waste money
In order to not sink deep into debts, you must extremely tight with a penny. It means that you should not buy things which are not really essentials. Some categories could be cut down on are fashion items as clothing, shoes; cosmetics such as lipsticks. There are so many people who like to collect lipsticks or cheek color palettes, however, these stuffs really waste of money because they are going to be out of date and there is no reason for having some lipsticks in red shade of color. These things are not essentials when you have already had enough to use. Moreover, you also should distinguish the different between things which could be used in the short-term and long-term periods.
Ones perform in the long-run is worth your money. In other words, you have to learn how to say “no” to your temporary pleasure of what you want in the short-term to give yourself ability to purchase things outright in the long term. Another way to save money instead of wasting them is that you should take advantages of discount vouchers, coupons. If you are planning to purchase something, wait until this item goes on sale. There are a lot of money saving tip apps running in iOS, Android and even Blackberry smart phones, which could offer you coupon database or information related to discount policy of some big brands.
Don’t waste time
This is really important and the big different between those who are in debt and who are not. Upon research, people are busy in something such as working in the peak season, taking care of a baby, having researches or even preparing for upcoming exam season don’t have enough time to think of other stuffs like shopping or spending money. Whereas, those who have about three or five hours of free time per day tends to spend more money on entertainment as well as shopping. If you want to be debt free, try to commit yourself in a busy life by always seeking of something that is good to discover or could offer you more money. For example, if you are free in all afternoon of the week, you could join an accounting and finance class in order to improve knowledge so that you could balance your own financial situation or you also could apply for a part-time job to earn more money.