If you don’t want to get sucked into the Cycle of Debt, debt has to be avoided. Here are the best ways to avoid the vicious cycle.

Source of Income- Keep it consistent. Getting and maintaining a good job can make all the difference when it comes to avoiding debt. Many people go to pay day companies during shifts of jobs. These job changes may lead to change in paydays and if you are living check to check, this will be a problem. If you are currently looking for a job, you can read job finding tips here.

Live within your means. This could be the most important way to stay out of the Cycle of Debt. The secret is that it doesn’t matter if you make minimum wage or six figures a year, if you aren’t living within your means, you will never have enough money. It is simple- don’t spend more money than you have. For budget help, click here. Another hint is to get rid of things you don’t need. By cutting out these things, you will have more money to save and it will be easier to live within your means. For specific examples of things you don’t really need, click here!

Save for emergencies. Start a savings specifically for emergencies. This is so you don’t have to go to payday loan companies or credit cards to cover costs if an emergency comes up. Set aside a certain amount of money each month until you have a savings that can be a cushion for your finances. Just remember that if you do need to spend your savings money, be sure to start saving again to get your funds back to where they were.

Earn extra cash. If you are short money between pay checks, instead of borrowing money, try earning more! We have come up with simple ways to earn extra cash in another blog post. There are many ideas of things you can do to earn extra cash without getting another part time job. Doing this can save time and money