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When was the last time you received a credit card bill and did not have to look into your bank account whether or not you had the money to pay for it? Today any expenditure we make has a bearing on our future. All the expanses that we incur towards credit card, your vacation, and your family outings seem so difficult to pay for. Actually we are in a habit of taking so mach credit that when the time comes to pay for our bills it becomes extremely difficult for us to make our ends meet. To pay back these credit bills, we end up borrowing more money and the process continues till it becomes very difficult for us to pay for a single bill. There are various ways by which you can avoid falling into debt trap:

Do not over spend
The golden rule is to not to spend when you cannot afford it. The spending does not mean only our daily spending but also our capital spending. Many people spend so much money on buying property that they do not have any money left to pay for their daily expanses, because the installments that they pay the lenders is very high.

Only use credit card when extremely necessary
It is very important that we use the credit card only when there is no other means of paying. This is because many people tend to over spend when they pay via credit card. Also see that the limit on your credit card is very minimal, this prevents you from excessive spending.

Try to pay your bills on time
It is always advisable to pay your bills on time. Try never to delay your credit card bills, as the penalty and interest charges very high. At times, you may end up paying more money to the credit card company that you paid for the product/service.

There are various advantages of being debt free:

Not worried about paying Creditors
When you have dollars in hand you need not be worried about the pennies you need to pay. If you have the cash to pay to the creditors you are free of tension.

Don’t have to be worried about Spending
People who are debt free do not have to think twice before they spend, because they know that they have a bank balance which will support their expenditures.

Happy Personal Life
This is by far the biggest advantage of being debt free. You do not get calls from companies to pay up or face the music, you can always take your wife for shopping, you are not worried about your daily expenditure and you can afford a family vacation. I am sure all this will sound music to the ears of the person who is debt ridden.

Good Credit Score
Since there is no default on your payments, many lenders will be willing to lend you money at rates which are lower than the existing market rate.

More Financial Security
A person who is debt free can sustain any foreseen event which may affect the financial health of his family. Also a person intending to retire need not depend on anyone to support him. He is self-sufficient and does not require help from any one.

“Prevention is better than cure” is an adage which my teacher taught me when I was in school. So it is always better not to fall in debt trap and regret taking the debt in the first place.

A great way to live debt free is to use a debit card instead of a credit card. There are plenty of visa debit cards available for online application which are only linked to your savings account, meaning you can't overspend.