Be Smart With Your Money Four Ways To Stay Out Of Debt

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money-05Story written by Daniel Shaw

  1. Avoid unnecessary college expenses. When students are in college they are likely relying on federal financial aid. Most cannot pay for school by working alone.

However, what many students don’t realize is that their student loans accumulate interest while they are in school. Therefore, students think that they have “extra spending money while they are in college.

It is recommended that you find out the interest rate of your loan and use your “extra money” toward the interest of your loans or save it for the upcoming semester’s books, supplies, and other necessary school items


  1. Only purchase thing that you are going to use. Nothing extra. When most people go to the grocery store, they end up purchasing more things than they intended to buy. Why? Because many don’t have a shopping list or a plan to stick to while they are at the store.

What most individuals do is look up and down every aisle picking things that they might want to try or things they might need in the near future.

This habits tend to cost families thousands – with millions of dollars a year going to the retailers. When shopping it is imperative to only buy things that will definitely be used. Don’t waste money on unusable items or things that will be past their expiration date before you get around to using them.

  1. Create a monthly budget and stick to it. When a monthly budget is created, it gives you a clear view and understanding as to where your money is going each month. When creating a budget, you need to reduce your expenses on unnecessary items and only allot enough money to be spent on needed items each month. After a short time you will see yourself saving more money than ever before, and you will definitely be pleased with the long-run results.
  2. Teach children good spending and saving habits. Childhood is the best time to teach good spending and saving habits. Teach your child how to handle money, smart saving and investing techniques. These are one of the most important lessons you could teach them. Teaching your children financial awareness will allow them to become financially independent – and prevent you from having to support your adult children.

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