What Keeps You In Debt and how to avoid it

debt consolidation loan||debt consolidation||Debt Consolidation

We know that many Australians struggle with debt and that’s why in this article we will present some tips on how to avoid debt In the first place. If it’s too late, then don’t worry. There are also ways to clear the debt. So read on and reach a better financial position.

To avoid debt, understand what you might be doing wrong

Not monitoring your money

When it comes to tips to clear your debt, there is nothing more crucial than observing the amount of money you get and the amount you spend. This is the first things you should know by now. Make the necessary calculations and find out what is your monthly income (if you have multiple sources), what creditor you need to pay and how much you save.

With your saved money, you can pay your debt. Don’t waste your time and money on unimportant things because your debts can quickly spiral out of control. Financial problems can affect your overall lifestyle, and your health and your income might not cut it in the end.

Don’t end up having a garage sale with half of your household on crazy discounts.

Not respecting your budget

Don’t buy things that are out of your budget. Stick with your income and use it as a reference factor whenever you have to buy something. Don’t spend your money like there’s no tomorrow because one day you will have to think about that “tomorrow.” That’s when the “fun” will begin.


Not having any savings

You know when some people start saving? It’s when they encounter their first emergency and have little to no money. Sure, they might borrow from someone, apply for a loan or even sell something, but that may prove to be inconvenient in the long run.

Sylvester Stallone sold his dog when he had no money. When he finally solved his problem, he found the new owner of his dog and bought it back for 15,000 dollars. All of that could’ve been avoided if he had some money saved.

So, here is a tip: start saving when you get your first income, not your first emergency.


  • Denying that you have money related problem

Here is one of the best tips to clear your debt: stop acting as you have no trouble with money. Stop avoiding paying your debts, stop gambling or being a shopaholic. These things will not only devastate you financially but will also ruin your life.

No money management skills

If you can’t manage your money, talk to an expert. If you have a partner, ask him or her to help you with your money. It’s better to start learning than to keep making the same mistake over and over again.

These are the main tips to avoid debt. You can also clear debt through services such as Debt Consolidation and Debt Agreements. Perhaps you just need a helping hand, and therefore – Debt Management is more suited to you. Whatever it is, The Australian Lending Centre can offer you professional help.


Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Related Posts

jobseeker changes
Jack Richings

Jobseeker Changes Incoming…

The Government brought in financial incentives to help Australians through the COVID-19 crisis. However, from 25th September, jobseeker changes are coming in…

Read More
personal loans with no credit check
No Credit Check Loans
Jack Richings

Personal Loans With No Credit Check

Personal loans are a great cash injection. Do you want a quick & easy option with no impact on your credit score? Consider personal loans with no credit check.

Read More
Australian Economy 2020
Jack Richings

Australian Economy 2020

Bush fires, drought, flooding & the Covid pandemic have made 2020 a year to never be forgotten. But how has this affected the Australian Economy 2020? Find out.

Read More
what is debt management
Debt Management
Diane Challis

What Is Debt Management?

Ultimate Debt Management Guide – We discuss the difference between good vs bad debt & give tips on how to escape debt. Find out what is debt management here…

Read More