1. Do not carry credit cards on you, use cash or debit cards.
2. If you see something you want to buy while shopping, sleep on it and if you still want it tomorrow then pay for it with cash.
3. Save up for big expenses, after making a budget make several categories for those major expenses you eventually have to replace.
4. If you have debt, use any savings to pay it down but keep at least 1 grand in a savings account for emergencies.
5. Attempt to increase your monthly cash flow and you will avoid supplementing living expenses with debt.
6. Keeping up with the joneses. Don’t buy things because people around you are spending like there is no tomorrow. You don’t really know their situation and you don’t want to fall under this dangerous cycle.
7. Keep fun money category in your budget around 5-10% of your paycheck. Blow it on whatever you need.
These are all steps we all should take to alleviate/eliminate the debt monster. If you keep good financial habits and stick to them you shall avoid being a salve to debt. Banks were set up to make the average person indebted to the system. They take your money give you 0% interest and loan out 90% of the money to borrowers while charging 7% or more in interest. In turn credit cards are another form of a loan these banks have used to make millions of dollars a year from the average person. If you begin to live a cash system you will be free from the banks trap and eventually will prosper in the money game.
*Please comment back if you already use a cash system and share how you have made it work for your situation.*
-For further information on getting a plan in place towards implementing a cash system email me.
Avoiding debt and using cash is another way to watch your money!
