Learning from your experiences

Once you've taken steps to get back in control of your finances, it's vital to learn from your experiences:

  • Figure out exactly where things started going wrong.
  • See what luxuries you can live without, and learn to live within your budget.
  • Think very carefully before you take out any more credit.
  • If you do decide to take out credit again, take time to shop around for the best deals.
  • If possible, cut up your credit cards - when you rely on debit cards and cash, you'll always know you're not living beyond your means, or alternatively, pay the balance in full every month.

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