Tips From 4 Pillars To Stay Out Of Debt

One of the common issues many people experience after using debt consultants is to find themselves back in debt at some point in time. This is because the debt consultants did not provide an educational component, or the individuals chose not to take advantage of the information and financial management strategies offered.

Work Closely with the Debt Consultant

At 4 Pillars, our debt consultants work closely with clients to assist them in learning ways to manage credit cards, budget, and to live their life without taking on heavy debt loads. Often people have the basics already in use; it is just touching up specific issues that help them to live a life free from debt or with manageable debt levels.

Powerful Debt Management Strategies

To help anyone stay out of debt at any point in time, here are some simple yet powerful strategies from the debt consultants at 4 Pillars:

• Limit your credit cards – limit yourself to one to three credit cards and avoid having multiple cards. It is easier to miss a payment if you are managing a handful of major and store credit cards. Missed payments can result in increased interest and penalties.
• Consider using cash or debit cards – using cash or debit cards for frequent purchases such as gas, groceries, eating out, and even your daily coffee helps to prevent running up the balance on credit cards and carrying a balance with interest.
• Alternatives to credit card purchases – for expensive purchases, consider options to using a credit card. Many stores offer no-interest or fee layaway programs that save you money.
• Budgeting matters – budgeting and staying without your spending allocations in each area of the budget is one of the best ways to remain debt free.

For more information on how to manage debt and avoid future debt, contact the team at 4 Pillars.