1. Credit should always be the last recourse, not a first option. Do not use your credit card to pay for groceries, utilities and other consumables. Do not bring your credit card to the grocery store when you don’t intend to use it. Interests and other charges may only aggravate your difficult financial situation.
2. When unexpected money (such as a bonus) comes in, use it to pay off your debts first before applying it to other things. Remember that your goal is to get out of your tough situation and there is no better way to do it than remove what makes the tough times tough. Spending extra income recklessly is a sign of irresponsibility.
3. Be decisive in sticking with your budget. One of the wisest things to do during tough times is to be disciplined. After all, when the difficult times are over, you can use your extra money on your wants. Treat your budget as a tool, not an enemy.
4. Don’t be imprisoned in your debts. Desire to be debt free. Plan your finances. Live within your means and do not spend beyond your earnings. It is one way to show respect to yourself, your family and your future.
There is always a way out of a difficult financial situation. Hard times are great teachers and when you succeed at learning the hard lessons that accompany them, you are on your way to be the reliable and responsible financial manager that you dream to be.