Saving money instead of going into debt means that every dollar you earn has more strength. Here are some tips to keep your family debt free so that you can earn interest instead of paying it.
Review transactions
Over one month don’t use cash and instead put everything on your debit card. You can then analyse the spending in your household and identify inefficiencies.
Create a budget
Creating a budget will help you keep your spending under control. Remember to stick with it, your first budget will not be perfect but the second month will be better.
Commit to the plan
It takes 90 days to form a habit so you’ll need to stick with it for some time to see results. After three months of changing your behaviour you’ll be ready to live a more financially secure life. Expect to see your savings increase.
Source: http://www.huffingtonpost.com/jaclyn-vargo/4-steps-for-families-to-avoid-debt-and-increase-savings_b_3644564.html
