7 ways to stay out of financial debt

An individual for instance might fall into debt maybe they owe a mortgage loans,cable bills,utility bills and credit card debt.For an individual debt is a means of using predicted income and making future purchase in the present before it has actually been earned.
A person is more likely to to spend more than expected and get into debt either by using their credit cards or when a payment is made with cash.
Many people,businesses are still struggling with their finances in today's present economy,now why do people still have their debts  unpaid reasons because they have no structured financial plan.
On this post i will show you simple practice-able ways you can get rid of debt and start laying focus on the things that are of extreme important to you.

1.   Plan your monthly budget: what this does that it helps you to see tangibly what you are spending on each month in times of your inflows(income) to your outflow(expenses),it helps to monitor visually what you are spending on and also it serves as being accountable of all your expenses.Lets take practical example if you earn a monthly salary of $80,000 as a worker at least 40% of it should go in as your monthly budget or expenses.
2. Trim un-necessary spending:It could be you are spending a little bit too much money maybe on your grocery,cell phone bills,gym and entertainment cable bills, look for less expensive ones that will suit your needs.
3. Access your living cost:what i mean by this is to access what you are spending on as a monthly/yearly house rent and insurance,you need to downsize your apartment or you find a place a little bit cheaper than the one you are staying in if it is on the high side and rent the cheaper ones that will meet your needs.However,that you are not spending alot of money on your living cost,for example you live in a 3 Bedroom flat and you are still in debt try to look for a self contain preferably A room and parlor that is less expensive.
4. Make more money:This an option,sometimes getting a second job for par time job to get an extra cash,on the other side it will do you a lot of good if you have two jobs at the same time this will give you an extra money to easily pay your creditors and stay out of debt.
5. Be conversant with your creditors:Try to communicate with the people you are owing either by phone lines or emails,tell them about your current hardship and your present financial situation.Give them an assurance  that you will be able to pay back as soon as you are financially stable this one of the best way to avoid harassment from your creditors. 
6. Stop investing:How would you invest when you still have an un-settled debt?impossible i guess?this will only worsen that case,set aside those investment opportunity when you are fully debt free then you can consider those investments.
7. Ignore broke friends:Am not saying you should stay miles away from those your broke friends but try to avoid them when it comes to monetary terms if they ask for a lend make it clear to them that you still have some debt that you havent paid off.

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