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Tips to Stay Out of Debt

Don’t you sometimes feel that you’re in a cycle of debt that never ends?...Want to break out? You’re not the only one, millions of Americans are in this situation too; even those that earn big paychecks they struggle with debt. There’s no easy solution, but here are a few simple tips to help you get started:

1. Taking charge of your debt. Make a list of what you owe this month and compare it to your paycheck. When the numbers are on paper, they’re actually easier to face.

2. Want to beat credit cards at their own game? Be sure to pay on time so you can avoid late fees, and always pay more than the minimum.

3. Bank overdraft protection fees can catch you by surprise and they add up quickly. So keep control on your account balance and whatever you do, don’t overdraw.

4. If you’re bored or tired, stay out of the mall. Even so, if you still find yourself spending too much on daily or personal expenses, make a list of your purchases. Wait a few days, then go back and put these purchases in three separate categories: “Want,” “Need” and “Can Do Without.”