How to stay debt free Financially - Part 2

In my last post I started a series on how to stay debt free Financially which I believe many of us have learnt one or two things from it. So today I will be continuing from where I stopped

Credit cards are dangerous. They're easy to get into debt with, and it's hard to pay them off.

The best way to stop using credit cards is by not getting them in the first place. If you don't have a credit history yet, then you won't have an issue with getting approved for one later on down the road (provided that your income is sufficient).

Don't let yourself get trapped by monthly payments since this could affect your ability to pay back debts in full if needed at some point down the line - especially if they're high-interest rates!

Start saving now.

It's never too early to start saving, so here are some tips for how you can make that happen:

Save for retirement. If you're not already saving for retirement, now is the time to start. You should aim to save at least 10% of your income every year until you reach age 50—and then keep adding more money until age 65 or later (depending on how long it takes). The amount depends on what kind of expenses are included in your plan and where they fall within the spectrum of "normal" spending levels; if nothing else, this gives us something concrete from which we can work toward our goals!

Save for a down payment on a house. If this isn't possible yet because housing prices aren't even remotely affordable yet (which means no one wants their house), then consider saving as much as possible towards getting started with buying one anyway—and remember: homes aren't just about having shelter from the elements; they're also investments that provide returns over time through appreciation increases (or decreases) in value due mainly because demand increases faster than supply does under normal circumstances."

Keep your expenses in check.

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The first step to staying debt free is knowing how much money you actually have. To do this, it's important to keep track of all your expenses. If you don't know what your monthly income and expenses are, then you won't be able to make any adjustments or cuts until you do.

Once this is done, there are some other ways that can help reduce your debt load:

Stay within budgeted amounts for each category (e.g., food). This will allow for less spending overall—and if possible, save up some extra cash by cutting back on unnecessary purchases like coffee drinks or movie tickets!

Spend less than you earn, live below your means, and avoid large purchases on credit.

Spend less than you earn

Live below your means

Avoid large purchases on credit

Know what you spend most on and keep track of how much you spend grocery shopping versus eating out each week or every month.

Knowing where your money is going can help you identify areas where you can cut back. If you don't know what you are spending, it's harder to make changes.

To keep track of how much each month or week you spend on groceries versus eating out, download an app that tracks this information for free (like Mint or You Need A Budget). Once installed, the app will automatically categorize all of your purchases into categories like groceries and entertainment/socializing. You'll also be able to see how much total money was spent each month by category while also seeing graphs showing the trend over time so that if unusual patterns arise this year compared with last year—for example, more people than usual bought lottery tickets at one point in December—you'll be able to spot them quickly instead of waiting until March when everything is back into balance again

Find ways to cut back or cut out non-essentials like cable TV.

Cut back or cut out non-essentials like cable TV.

Cable TV is expensive, and it can cost hundreds of dollars per month. You can get a lot of entertainment on the internet for free, and you can still watch shows online if you subscribe to Hulu Plus or Netflix, which are both significantly less expensive than cable. If you have kids who like cartoons (or even just enjoy watching them), there are plenty of options for streaming services that offer episodes at the exact same time they air on television networks like Disney Channel, Cartoon Network and Nickelodeon.

So while there may be some benefits to having all these channels available through your cable company's lineup—like being able to catch up on older episodes if you miss them during their initial broadcast run—there's no doubt about it: most people don't need all those channels when they're looking for something specific anyway!