As I come to the end of over 7 years of paying back money on debts, I thought I would make a list of ways to avoid problems as a reminder for me and maybe others who read this.
- Do Not use Credit Cards
- Possibly get a pre-pay one
- Do Not get Personal Loans without a goal
- Buying a Car for example fine, but just to have money or to clear debt no.
- Do Not have an overdraft
- Especially, do not live in your overdraft
- Do Not use check cashing services
- The Annual Percentage Rate (APR) could be near 1,500% mark (not a typo)
- Start a saving account, maybe an ISA
- Pay for things with Cash
- This is also a way to avoid problems with possible credit card fraud
I may add more items to this in the future, and please feel free to add your tips.
I want to avoid future debt.