No matter how hard you try, you might find yourself walking a tightrope when it comes to your finances.

Unfortunately, many people are in the same boat as you, oftentimes wondering if they can meet all of their monthly expenses.

That said you can do a number of things to lessen the odds that you will in fact end up in debt sooner rather than later.

No, it isn’t always easy, with some difficult decisions oftentimes having to be made. On the up side, you oftentimes have more power of your finances than you might initially think.

4 Tips For Staying Out Of Debt

So, are you ready this year and for years to come to do all you can to stay out of debt?

Don’t Let Debt Get the Better of You

So that you are able to keep debt at arm’s length as much as possible, keep these tidbits in mind:

  1. Plan to manage money – First and foremost, do you have a well thought out plan when it comes to staying financially healthy (see more below)? For too many Americans, that avoiding debt plan is missing in action. Do your best to not only have a plan in place, but follow it as much as possible. By doing so, you can oftentimes avoid falling into financial peril. For example, if you are thinking of purchasing a new vehicle in the near future, make sure you understand where that money will come from. Do you make enough in your current career to easily make those payments? If not, you’re better off waiting until you are in a better financial situation to get that new vehicle. In the meantime, put the necessary expenses into your current car or truck, assuming that you’re not talking about major costs like a new transmission etc.
  2. Too much in rent – Millions of Americans have to take a step back at times and look at what they are paying in rental living expenses. In many cases, they are in over their heads. One of the possible solutions is to put a number of your possessions in storage and move in with a family member or friend (some of whom may not even charge rent or ask for just a little bit of financial help) until you’re in a better financial situation. If you choose that option, make sure you find a secure and clean self-storage facility. Whether it means looking at storage units Maryland or elsewhere around the country (depending of course on where you plan to reside), consider scaling back and not paying a landlord too much for a property that probably isn’t worth the price in the first place.

Credit Cards Can Be Quite Dangerous

  1. Credit card debt – While millions of Americans do just fine when it comes to managing their credit cards, lots of others are in a pickle. While some expenses can be all but unavoidable (medical costs, a divorce, major vehicle repairs etc.), many others are in fact avoidable. Do your best to make sure you’re not spending over your means. Yes, you may really think you need that suit or dress, but do you really when it comes right down to it? Keep in mind that consumers tend to spend more with plastic than they do cash, so avoid the trap as much as possible.
  2. Monitor your health – Lastly, while you might think you’re as healthy as can be, avoiding a yearly physical is an invitation to potential problems. Make sure you get a regular physical not just for your own well-being, but also that of your wallet or purse. If you put such physicals off, you could find out at a later date that you in fact have one or more serious health issues. Those issues of course can add up to significant medical expenses even with a health insurance plan by your side.

Staying out of debt is not always easy, but it certainly is a better alternative than having to worry day after day about you will pay for this and that.