Here are some steps you can take to Avoid taking on more Debt in the future:-
1] Create a Budget:- Start by understanding your Income and Expenses , and Create a Budget to help you manage your money more effectively.
2] Live within your means:- Make sure you are only spending what you can afford and not taking on Debt to pay for things you can’t afford.
3] Save for Unexpected Expenses:– Establish an Emergency Fund to help you pay for unexpected expenses , instead of relying on Credit Cards or loans.
4] Pay off existing Debt:- Prioritize paying off any existing Debt, as this will reduce the amount of interest you pay and make it easier to avoid taking on more Debt in the future.
5] Avoid using Credit cards for everyday expenses:- Use Credit cards only for Emergency expenses or large purchases , and pay the balance in full each month to avoid Interest and Additional Debt.
6] Consider using cash or a Debit card:- Consider using cash or a Debit card instead of a Credit card, as this will help you keep track of your spending and avoid overspending.
By following these steps and being mindful of your spending , You can avoid taking on More Debt in the Future and build a strong Financial foundation.