Prevention is better than cure, of course, it is. Curing a disease is a long, hard process which involves tracing the root of the problem as well as the underlying implication and causes of the problem. When we say debt is a disease, this is exactly why we think that. Debt cripples your ability to think clearly and to live your life to the fullest mental and experiential capacity. Debt is the cause of many other problems that are completely avoidable with merely healthy financial habits. If you are a debt novice, then there are chances that you have not yet experienced the crushing debt that compel people to declare bankruptcy or take loan after loan just to pay the previous debts back. You might also be unaware of what a menace the credit collectors can be. Their calls can be a klaxon of anxiety and flight response within even the strongest psyches.
If you have not fallen into the pit, here’s a word of advice for you straight from the debt experts. Take care of your debts and keep a log of everything. The habits of overspending that might not be a big threat now will turn out to be the biggest hurdles to overcome in the near future. The one month delay over the payment of credit card debt will carry over to two months and before you know it, there will be a debt collection agent calling every day and your credit score will be somewhere near the ocean floor. As it was mentioned earlier, the best way to mitigate debt is to be critical of all your actions and causes of your debts. You must overcome personal hurdles and inclinations to spend more. Be smart about your financial future and you will remain a debt novice.