6 things you can do to stay out of Debt

By Sia Hasan

Special to the Financial Independence Hub

No one wants to be in debt, but the good news is that you don’t have to be if you make smart financial decisions. Here are six ways you can change your habits and stay out of debt.

Create a monthly budget

Creating a monthly budget can help you visualize how much money you have coming in and how much typically goes toward expenses such as electricity, Internet and maintenance. There are plenty of apps that can help you get started, or you can go the old-fashioned route and use a pencil and paper. After about a month, you’ll be able to see how you can cut down on your expenses, such as canceling subscriptions that you don’t need or use.

Go Green

Not only can you go green on a budget, but it can actually save you money in the process. The next time you’re low on food, try going to the local farmers market instead of the grocery store. Contrary to popular belief, one study found that farmers markets are 10 to 20% less expensive than grocery stores. While you’re at it, bring your own reusable bag with you when shopping. Some stores will give you a refund, which can add up to $10 of savings a week. If you’re looking for another way to go green, installing solar panels in your home can be a great way to help the environment and save money at the same time. Although the initial investment may be large, you’ll actually end up cutting electrical costs in the long run. One study found that you can save up to $30,000 in the first 20 years after installing solar panels. If you’re interested in going solar, Loanpal can provide you with financing options.

Leave your credit cards at home

Unlike a credit card, you can’t overspend cash once it’s gone. Before you go on your next trip to the grocery store, bring only the amount of money that you think you’ll need. This way, you can stick to your list and you won’t be tempted to buy any extra treats or unnecessary items. Credit cards can make it difficult to know how much you’re actually spending, which can lead to costs rapidly accumulating.

While shopping, remind yourself that if you can’t purchase an item in cash, you can’t afford it.

Unsubscribe from E-mail lists

When it comes to email lists notifying you about the latest sales, ignorance is bliss. You wouldn’t have known about the sale if you hadn’t gotten the email, so why add that temptation into your life? Although treating yourself to a discounted or trendy new item can be fun and rewarding, don’t subject yourself to that bait on a weekly basis. Your closet is probably already full of clothing, so unsubscribe to those pesky email lists to save your budget and stay out of debt.

Turn off one-click ordering

When you can order an item almost instantaneously, there’s no time to evaluate your purchase and decide if you actually need it. Although one-click ordering can be convenient, it can cause you to purchase items on autopilot. Turning off this feature can give you the extra time to determine if what you’re ordering is a necessity.

Increase your Income

If you’ve cut your expenses but you’re still finding it difficult to make ends meet, try asking for a raise, getting a new job or taking up a side gig to generate some extra income. Whether it’s running other people’s errands, packaging a customer’s grocery items for delivery or dog sitting, there are plenty of quick and easy ways that you can bring in some extra cash each month.

Whether you’re currently in debt or looking for ways to stay out of it, it’s important to be smart with your money. Following these six tips can help you stay out of debt and achieve your financial goals.

Sia Hasan is a tech entrepreneur by day, and a freelance writer by night. Her passion lies in business technology, efficient and sleek programming, and customer relationship management. When she doesn’t have her nose pressed against her computer screen, you can find her spending time with the loves of her life, her two dogs, Pixel and Vector.

2 thoughts on “6 things you can do to stay out of Debt

  1. I read your article and most of the steps I would certainly agree with. But Leaving your credit cards at home does not create any discipline and this is what is needed to stay out of debt. A better solution would be to budget an amount that you can spend on your credit cards each month then that would develop structure. Then if you did not spend that amount this sum would then be applied to any outstanding balanced owed to your total debt. This would act as a reward for good behaviour.

  2. Always bring my “dividend” card with me. Use it for just about everything except for today when I had a $0.70 purchase. Would have felt bad using the dividend card for that small a purchase.
    As long as you can pay it off every month there is no reason to leave the card at home.


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