It is not always easy to keep up with bills. One thing to keep in mind is that an ability to stay current with your bills is something that many people have to deal with. Moreover, it is not your fault if circumstances have put you in a position where you have to make choices between paying one bill and not paying another.
Regardless of the reasons for the mountain of debt that might be piling up, it is important for you to figure out an effective way to get debt-free and steer clear of these difficulties in the future. The good news is that there are a number of things you can do to avoid serious debt problems going forward.
One thing that you can do to eliminate debt from your life is to maintain a calendar and always know when a particular bill is due. This can a long way toward rebuilding your credit score because credit payment history plays a huge role in your FICO score, which matters when it comes to things like securing loans or buying a home in the future.
3 Tips For Staying Debt-Free
1) Pay attention to your bank accounts and try to keep emergency funds on hand. A majority of Americans have less than $1,000 in emergency savings. Without an emergency fund, you could potentially be put in a very bad spot when an unexpected expense comes along.
2) Don’t lend money. This is a good general rule for avoiding conflicts in your life, as financial issues tend to complicate personal relationships. It is also good to ensure that your own financial situation is secure before worrying about someone else’s.
3) Don’t overuse your credit cards. It can be very tempting to keep charging expenses, especially when the bill doesn’t come due until the end of the month. But the bill will come – and your credit card debt will accumulate at a rapid rate.
If you are struggling with debt and can’t afford to pay your bills, you should speak with a qualified debt management attorney as soon as possible. Joel R. Spivack, Esq., is an experienced debt relief lawyer who will help you explore your best options for getting out of debt.