Debt Solutions: What happens after? 

Once you have paid off your debt it’s important you take precautions to avoid it happening again. Here are 3 ways you can step up your post-debt game.

Learn from experience

You know the feeling of being in debt and having that financial burden in the back of your head. Learn from your mistakes and don’t let it happen again. 

Budget your finances

One of the common ways people find themselves in debt is by not keeping track of their spending. Monitoring your finances is a vital tactic to ensure you stay away from debt, the best way to do this is by budgeting. That doesn’t mean you have to monitor every single purchase, but it’s allocating money towards various expenses such as food and transport, so you can control how much money is going in and out of your account each month. 

Saving

More than often, if you had savings you wouldn’t have ended up in debt. Make sure you’re putting money away into a savings account for unexpected costs. It can be easier to save when you have an end goal in mind, so add a holiday or a more expensive into your budgeting plan (For example, once I save $5000 I can book my flights to New Zealand). This type of goal will entice you to allocate money to your savings account.