How to avoid debt
The way we live our lives these days means that we take debt as very much part and parcel of everyday life. Most of us have credit cards and an overdraft facility – both forms of accepted debt – and a great many of us will have loans, mortgages and other versions of debt that results in us owing money to others on regular basis and, in some cases, to considerable levels.
Debt is something that, at one time, was considered shameful, yet these days a hire purchase agreement is a form of debt that everyone accepts as an everyday occurrence.
The problem comes when we allow our debt to get out of control, and with our current state of economy getting into serious debt is something that is all too easy to do.
Debt can cause considerable stress, too, and has also been a source of much distress within families, and this is why controlling debt must be attended to in a very sensible and measured manner; there are many people out there that can help you if you consider you have a problem with debt, and it is always worth remembering that help is at hand.
There are many rules regarding debt but one that needs to be kept to is that you must not take on debts that result in payments exceeding your guaranteed known monthly income.