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Keeping Yourself Out of a Cycle of Debt

How does one keep out of debt or more importantly the debt cycle? That is a question that anyone should ask themselves. I have wondered the same question myself, and decided to do a little researching. I have come to an understanding on how to keep out of this vicious debt cycle. The key here is to know and recognize a few don’ts that should prevent you from even starting the horrible and frustrating downward spiral.

First, before we jump into preventing ourselves from being taken by the fruits of wrath, we will look at the actual situation of paying debt off with more debt. This process usually starts by people using credit cards to pay off other credit cards, which then leads to yet another credit card that needs to be paid off. Thus the cycle has turned over one time.

There are some companies that say they can pull you out and help you lick your wounds, but I wouldn’t put my money on it. Any business that tries to tell me that I can get something for free these days just doesn’t seem like a business to me, there is always a catch to such situations.

Things to Avoid

  • Gambling
  • Poor money management
  • Medical expenses
  • Misunderstanding of financial terms
  • Divorce
  • Unemployment
  • Not saving enough
  • Reduced income

In a nutshell these are the more common excuses for plummeting into debt. After such a downfall people tends to panic and resort to the easiest and closest comfort. Of course, a thin piece of plastic with a magnetic strip just so happens to give us such a comfort, in which offspring the infinite debt cycle. Now you are probably sitting there reading that list and wondering, “Well, everyone knows that you shouldn’t spend money you don’t have. This list is nothing new.” That maybe true, but even the most brilliant minded people might even be fooled by such simplicity. The thing is, no one DOES think of these easily avoidable catalysts. I mean we have credit cards where we can buy with out seeing money actually get taken out of our pockets. It’s all great fun till you realize that you are thousand of dollars in debt.

So what is the easiest way to keep you out of debt? Well don’t spend money you don’t have, stay employed, go to Vegas only once a year, and get medical insurance

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