How to manage your debt?

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My first steps to avoid debt is to find extra income aside from my present job. Anyone can do it if they are welling enough and eager enough to find extra income whether it is a job or small business. Many of us are happy and satisfied with present job without thinking that anytime we need more money for our growing family. Before it happens look for a back-up. Don't wait for the problem to arise before looking for another extra income. We should prefer before going to war. Start a business now and make sure you buy an insurance or something for your children when they start going to school. If you don't have these preparation then you are bound to have debt.

The next thing to do or not to do is using credit card. Credit card is really one of the reasons why many of us are buried in debt. Using credit card to shop is a dangerous habit. If you are into shopping make a list to all things that you want to buy. Don't buy for want but need. Sometimes we are tempted to buy things that we don't really need like extra clothes, MP3, or expensive cellphone. Think first why you buy such thing and if you don't get anything of buying it, then don't buy. Here is the best thing to remember: Don't buy anything if you don't earn from it.

Debt Management is very important if you want to have a financial freedom. Having it you can retire early and worry free. Start it now. If you are in 40's just do it and it is not too late to do so.