In the present age a large number of people all over world are suffering from bankruptcy. No one expects to be a bankrupt in any kind of circumstances but as a result of some habits they may have to bear this problem. So I am about to discuss with you some simple but effective tips to avoid being a bankrupt.
1. If possible, always try to pay your dues with cash. That does not mean that you can’t use credit card; but try to minimize your credit card usage when you can pay with cash.
2. Always make a budget for your monthly expenses, & try to stay within your budget. By calculating your budget you can understand how much can you spend in a single time frame & how much you can save for further use.
3. Don’t be obsessed with impulse buying i.e. always purchasing things which you don’t need immediately. Everybody likes to buy new gadgets or new clothing but always think before buying about your budget.
4. Try to be away from any kind of offers which implies the opportunity "pay later" or deal stating "financing without interest" .May be those schemes attracts you very mush but keep in mind that those are merely a plea & by availing those offers your debt will be delayed with causing you trouble.
These are some simple tricks to avoid bankruptcy; we will discuss some more tips very soon.
