Managing your money to stay debt free

If you have recently become debt free we recommend that you use our 4 simple tips to stay debt free.

Save save save

Every time you are paid ensure that you put a small amount into a separate savings account. It doesn’t matter how much but, if you make a regular commitment to save you will be amazed at how quickly your savings will accumulate.

Only buy goods if they are essential

Only buy goods if they are absolutely essential.  Before you buy any goods ask a friend or family member if you could borrow the item you want to buy.  Many people realize that after having bought an item which they thought they needed they could have lived without it!

Be insured.

Make sure all of your personal items of value are adequately insured. It may also be a good idea to see if you can afford income insurance. If you become sick and unable to work the income insurance we at least allow you to continue to pay your bills and necessary household expenses.

Use credit responsibly.

If you have only recently become debt free we recommend that you only use a debit card.  If you have a credit card we only recommend you use it for  emergencies only. If use a debit card you won’t allow yourself to spend money which you do not have!

These tips are just a starting point. If you are serious about managing your money, you may need professional assistance.