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Staying Out of Debt

Category Budget
The best way to not be in debt is to stay out of it in the first place but that is easier said than done. Use these helpful tips and tricks stay out of debt. This is a guide about staying out of debt.


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By 14 found this helpful
December 9, 2010

Well now that I am debt free, I am still a frugalite as I am saving for a one year emergency fund. Here are a couple of the ways which I am doing it. I hope that you will be able to apply a couple to save a little money. My Frugal Life


To begin with let's begin with the limitations, of which a major one is that I live in an apartment, so I can't do any structural changes such as adding insulation to decrease my heating bill etc. But other than that the sky is the limit. So here we go:


I hope that these were of benefit to you and please keep sending in these Frugal Life stories. I love reading what others are doing.

By Lovejoy from Dallas, TX

Do you have a frugal story to share with the ThriftyFun community? Submit your essay here:

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By 7 found this helpful
April 25, 2010

We started living a frugal life because we have 7 children, and I wanted to stay home with them. We did not want to be saddled with debt. I planted a garden, raised chickens, and beef. My Frugal LifeI shop a lot of bent and dent stores and Amish bulk food stores. I really try not to overbuy. I use coupons and shop sales only. I have had family members make fun of me.


Now that I have 2 grandchildren who live 2 hours away, it is nice to have the money to be able to go see them. We kept our thermostat set at 62 until we could afford a wood furnace. We don't take money from the government.

Our first 3 children paid their own way to college with no government aid and no debt. One is a nurse, one a lineman, and one a mechanic. Our next son is planning on starting Tech school in the fall. They have taken many jobs and worked very hard. I thank the Lord for what we have.

By Jilly

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July 11, 20115 found this helpful

For all income that comes in, no matter how small, pay off the debt with 50%, and live off the rest. This works wonderfully and is wise. Our debt is going down, and one day, God willing, it will be paid off.

By Bonnie from Spokane, WA

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Kelly Ann Butterbaugh1 found this helpful
April 6, 2011

As colleges prepare for graduation, thousands of people prepare to enter the workforce. There's a promise of paychecks and prosperity, but there's also the threat of dangerous levels of debt.

Leaving college with the weight of student loans on their shoulders, new grads need to know that it takes time to build up the financial security that allows for the perks of adulthood. Without savings and without accrued material objects, it becomes important to establish an understanding of crucial needs versus extravagances.

Avoid Debt

Avoid the lure of credit. It's time to face the real world fact that debt adds up quickly and disappears slowly. No one is there to bail you out anymore, and you don't want to pay the price of poor financial choices for the next ten years. If you must purchase something on your credit card, put the card away until the original purchase is paid off.

The Essentials

As you prepare to enter the workforce, there are some essentials that are worth the money. They'll pay for themselves in no time.

Money is well spent on a suit. Whether you're male or female, a good suit is crucial for interviews and meetings. When you land the job, the money you spent on the suit will come flying back to you. It doesn't have to be a designer suit, just something classic and well fitted. Have it tailored to fit you, and look for options that it offers for various occasions. If you're called back for a second interview, you'll need to wear your suit again.

For instance, men can purchase the suit with additional shirts and ties. For the first interview, wear a basic white shirt and tie. Then, for the call back add a colorful green shirt and patterned tie. Later, you can wear the pants without the jacket. If the store is offering a sale on multiple pieces, consider buying two pairs of pants that match the jacket.

A black blazer paired with olive pants looks a little more casual, but a black pair of matching pants makes a full suit. You'll get a lot of wear out of a few items. Women can take the same approach to their suits and change it up with fresh jewelry and blouses or pants and a skirt paired with the same jacket.

Another investment that you won't regret is a good pair of shoes. You'll wear them to interviews, you'll wear them to work, you can wear them to church, and you can wear them out to dinner. Make sure they're versatile and comfortable as well as supportive. These aren't going to come cheaply. Cost does not make the shoe, but a good leather shoe from a reputable company won't appear on a "buy one/get one free" sale.

Women should look for a good pair of loafers or pumps that can pair with both skirts and pants. Men need a pair of shoes with a good sole but a dress look. Avoid patent leather looks as they wear quickly and require a dressier outfit choice.

Another more pricey investment is your car. Look for reliable and affordable cars. Many great trade-ins are guaranteed by the dealer and have low miles and little wear. New cars are expensive, though they also offer the peace of mind of a warranty. If you can purchase an additional warranty on your used car, consider it seriously.

While you're paying monthly payments, you don't want to incur repair bills as well. Commit to a good used car and save the splendor of the new car for a few years into your career.

The Pitfalls

There are many temptations in the world, and quite a few of them approach the new members of the working world. As you watch your co-workers spend their money on family vacations, new cars, and fancy phones, remember that they're earned the right to spend their money on those items. They've, hopefully, accumulated savings and retirement plans; they've built equity on their homes, and they've established personal goals. You'll get there as well, but you're not there now.

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June 23, 20061 found this helpful

My way of not going too far into debt has always been the same: I don't spend more money than I have. I do use credit cards but never charge more than I have in my savings account...

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Kelly Ann Butterbaugh0 found this helpful
September 26, 2006

The economy is poor, but that's not the only reason that people are in debt. Other factors play a huge role in the circulating debt that swarms above the homes of America, and one of them is the "I need it" attitude.

Woman frustrated with bills

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By 0 found this helpful
November 15, 2004

Self-Help Debt Management Program Live Debt Free! You deserve financial security and independent wealth. Anyone can do it. You Deserve IT! Start saving now. Includes a plan, ideas and resources for debt reduction, household budgeting, frugal living. Reduce expenses, save money, balance your budget.


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