What To Do When You’re Finally Debt Free

As an added piece of advice, your intention should be to remain debt free once you’ve gotten to that point. It will take some keen attention, but it’s undoubtedly attainable.

These strategies will help keep you from incurring debt and additional interest:

·         Return all but a couple of your credit cards. Keeping some open and active will enable you to build a higher credit score for future loans, like a mortgage loan.

·         Use your cards from time to time, but have the cash available to pay off the total amount charged before the first payment is due.

·         Settle any interest or debt you do incur at the soonest possible time.

·         Build up your savings to handle emergency cash needs.
Adhering to these simple tips will make it easier to prevent debt and interest and maintain control of any debt you do incur.

So there you have it – easy ways you can avoid interest being applied to your day-to-day expenditures. By using these tips, you’ll significantly lessen the chance of being exposed to the burdens brought about by debt.

Author: Dr. James Hans

Dr. James Hans is a personal finance expert, who has dedicated his life to providing financial education in the areas of personal finance and investing.

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