10 Ways To Avoid Getting Into Debt In Your 20’s

People in the early twenties tend to overlook upon the fact that with no financial support from parents or other relatives you can end up in debt very easily. There’s nothing worse than having to pay incredible amounts of money to banks or loan sharks just because of a reckless behaviour.


Maybe you just moved in with your girlfriend or you’re in college and it’ the first time you have to manage your own money entirely. Since you were a child, you always wanted independence. Now that you got it, think very carefully your next steps. Do not make decisions that will ruin your future. Below I will provide accurate guidance that will be of great help for those who want to start a debt-free life.

Credit cards

Getting a credit card that meets your requirements is a great move. The right type of credit card will bring a lot of benefits to a person who spends his money wisely. For instance, an avid traveller could opt for a card that allows him to take advantage of discounts for hotel rooms.

However, when the opposite happens, when one is unable to control his desire to spend money on useless stuff, credit cards can be troublesome. If experience tells you that the temptation to overspend is just too high, use cash only.

Be pragmatic

Utility is the primary aspect that should concern you. What’s the purpose of packing your apartment with useless stuff that you will never get to use? When the voice in your head screams “You don’t need this!”, it’s better to listen to that valuable advice.

You need to follow a strict set of rules as far as spending is concerned. Once you become more mature intellectually you will learn that there are more important things in life than wasting a small fortune on the latest models of smartphones or laptops.

Earn more money

Have you ever considered working overtime? This will turn you into the most valuable asset of the company as well as increasing your income. Instead of cutting down the expenses, you could get a part-time job or spend more time at the office. It’s best to consolidate your financial situation even though at the present moment you might not need it.

Long term solutions are the best

Think things in perspective. Usually when banks offer zero interest rates and other advantages, there’s a trick. When it’s too good to be true, think twice before signing the contract. If you have no studies in the economic domain, ask for the opinion of an expert.


Opening a savings account with high interest rate is very practical. Maybe for the moment everything is under control, but you never know when disaster strikes. For instance, nowadays we depend a lot on cars to accomplish our daily activities. What if your personal vehicle breaks down? If you have no money tucked away, how will you be able to carry out crucial tasks that your career might depend on?

Money management apps

Technology offers a wide range of incredibly useful money tracking apps. They can help you make a quick assessment of your financial situation and will provide valuable instructions on how to stay on track with saving money.

Commit to it

It is essential to fully commit to this goal. Those who succeed in breaking their bad spending habits show perseverance and willpower.

Buy a used car

The used car market is booming because most individuals prefer a cheaper automobile over a car loan. You can make a great deal if you do a little research on the topic and ask for the advice of a good mechanic.

Value experiences, not material goods

All of us need to bring more experiences into our lives because chasing money is not worth it. For this to happen, we need to get out of the comfort zone and change our lifestyles entirely. An attitude adjustment is a great start.

How often do you feel empty on the inside and directionless? Having to cope with these feelings on a regular basis will affect your mental health as well as your capacity to appreciate life. Depression is the worst enemy of the modern man. Going from pessimistic to optimistic requires a lot of hard work, but putting in the effort is worth it.

A different approach

Instead of spending big bucks on getting private contractors to do specific jobs, you should learn how to perform easy tasks yourself. Small home improvement projects like removing an old tile floor or painting a few walls are not difficult even for inexperienced individuals.


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