Spend Less Then You Earn
Most people spend every single penny they earn every month. Due to this, if ever a financial problem arise, they probably wont have enough money to fix it, which can often lead them to fall into Financial Distress. To keep this from happening to you, you Should spend less then you earn and use that extra money left over every month to create an emergency saving account to help you pay for any unexpected expenses.
Avoid Credit Card Debt
A tremendous amount of credit card debt can often become overwelming and will often lead to financial distress. Financial experts encourage credit card holders to:
-charge only what you can afford
-pay all (or most) of the balance off each month
-pay on time
-dont miss credit card payments, and
-don't charge more on your credit card than you can pay in full each month.
Create A Budget
Creating a budget will help you better manage your income and expenses, it will also lead to a more balanced and prosperous financial future. It is aso one of the most important steps you can make towards guarding yourself against financial distress.
No comments:
Post a Comment