Debt Relief Experts
We’ve compiled 52 simple and easy-to-use tips for avoiding debt. Take a look and feel free to share!
- It might be on sale, but that doesn’t mean you’re saving if you don’t need it.
- Buying on credit and keeping a balance eats up any sales discount you received.
- Knowledge is power. Teach your teens about credit cards. Help them avoid the debt trap.
- The debt trap: Never use payday loans to keep up with debt payments.
- Avoid eating out. Make meals at home or brown bag it.
- Learn to say no – to spending, to the salesperson, to yourself sometimes.
- Shopping lists help you stay on track at the store.
- Buying a car? Think beyond the monthly payment. Maintenance, repairs, it all adds up.
- Save on interest. Put every extra penny towards debt.
- Pay off high interest cards first. It’s money sensible.
- Extra income should equal extra debt payments.
- View dollars in hours. How many hours of work will it take to pay off this purchase?
- Pay for the small things, like coffee, with cash not credit.
- Never put a vacation on credit. Save first.
- Once out of debt, build an emergency fund first thing!
- Plan. Plan. Plan. Plan your spending, saving, and debt repayment.
- Think twice about impulse online purchases.
- Remember: if you can’t pay for it, you can’t buy it.
- Carry only one or two credit cards and keep the limits low.
- Make a 5% savings goal. You have to start somewhere.
- Eliminate duplication. Do you need Netflix and Crave?
- Don’t chase a credit score. Chase financial security = no debt.
- Avoid unnecessary cash advances. Show yourself some tough love and stick to your budget.
- What’s yours is yours. Don’t lend your credit card to anyone.
- Pay the minimum plus some extra. The more the better.
- Buy used. We live in a sharing economy where new doesn’t mean better.
- Think long-term: $20 in credit card interest can quickly add up.
- It’s OK to stay behind. Shop for clothes towards the end of each season while they’re on sale.
- Think like Santa. Keep your holiday spending in check. Make a list and check it twice.
- Give yourself a break. Don’t punish setbacks. Push ahead.
- Read the fine print. Compare your options. You have a choice.
- Purging pays. Sell your unwanted clothes, furniture, and books.
- Debt is 90% behaviour. Encourage yourself to stay on track.
- Take control. If you’re prone to overspending, reduce the limit on your credit card.
- Eliminate unnecessary debt. Are you using that service plan?
- Set priorities. 1- Necessities 2- Debt Repayment 3- Savings 4- Everything Else
- Compound interest works for you if you save, and against you if you owe.
- Meal planning: Saving you money along with your sanity.
- Think big picture. Avoiding debt is the best way to save money for your future.
- Big expense coming up? Make a budget and stick to it.
- Be aware of your balances. Put a sticky note on the fridge.
- Visualize yourself debt free. Tell your friends too.
- Skip it. Friends like expensive dining? Join them afterwards.
- Pay yourself first. Set aside a portion of each paycheque to your savings.
- Say bye-bye to ATM fees. They add up. Plan withdrawals ahead of time.
- Adapt, don’t break. Let your budget have some flexibility for life changes.
- Be practical. If you have to put something on credit, put it on the card with the lowest interest rate.
- Remove triggers. Unsubscribe from promotional emails.
- Have weekly meetings to keep your budget on track.
- Think long-term. Carrying some credit card debt might help your credit score, but it’s too costly.
- Stay current. Review monthly and annual service plans for things you no longer use.
- Know the score: Find out your credit score and see if there’s room for improvement.
