This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Personal Finance
4 Ways to Avoid Debt
Make the minor tweaks to change your financial situation
You don’t need a credit card for every store. I’ve known people to have 20–30 different credit cards, and guess what happens? They lose track and rack up astronomical amounts of debt. I know the store deals are great, but you don’t need to sign up for a credit card every time a deal finds you. These cards will creep up on you.
2. Don’t Buy A New Car Every Couple of Years
Look, I get it. The new car with the new car smell is enviable. The high mileage and the “used” feel aren’t for everyone, but it sure feels great to know you don’t have a credit card payment waiting for you every single month. The car insurance + the car payment + the car maintenance + the gas = additional costs that you don’t need. Why not put your money to work for you 24/7 instead of having your money sit in your garage or a parking lot every night.
3. Upgrade Your Technology Less
There’s not much difference between the current iPhone you got last year and the iPhone that you’re planning to buy this coming year. The iPhone evolves iteratively with minor improvements; the only time you will be able to experience significant differences is if you wait more than 3+ years to get your next iPhone. Even still, if you’re phone is working properly, do you genuinely need that new iPhone? Upgrading your technology (e.g., gaming system, phone, tablet, etc.) will you keep you up to date, but it won’t pad your pockets – especially if you’re creating more debt to keep up with the latest technology.
4. Shopping
Retail therapy is where it’s at these days – especially with so many people staying in the “treat myself zone” since they saved up so much money during the pandemic.
It’s too easy to go out for a specific item and come back with items you had no intention of purchasing. Self-discipline is a life-long challenge for us – especially when it comes to our spending habits.
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Stoicism
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A Fake World
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.