4.6.2 Ways to avoid debt problems
- 4.6.1 How to manage your debt
- 4.6.2 Ways to avoid debt problems
- 4.6.3 Tips for managing debt
- 4.6.4 Video: Tips for managing debt
- 4.6.5 Serious debt problems
- 4.6.6 Credit counselling
- 4.6.7 Consolidation loan
- 4.6.8 Other approaches
- 4.6.9 Case study: Fixing debt problems
- 4.6.10 Credit balance insurance
- 4.6.11 Advance fee loans
- 4.6.12 Choosing to invest or pay debt
- 4.6.13 Borrowing to invest
- 4.6.14 Summary of key messages
It's easy to spend without realizing how the debts are piling up. Here are tips for avoiding that trap:
- Leave your credit cards at home.
- Decrease the credit limit on your credit cards.
- Set up automatic bill payments with your financial institution.
- Avoid impulse buying. Sleep on it and see if you still want the item the next day.
- Avoid "buy now, pay later" offers.
- Keep track of your expenses and manage them with a household budget.
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