The American Dollar
One industrious American family's focus on a financial goal of freedom. Through worldly personal finance education, here is our story.
Goals | Portfolio | Subscribe | About Us | Contact Us    

  Financial Links on the Web
  CNN Money
  ING Direct
  Mortgage Calculator
  PF Podcasts
  Smart Money

Our Story: Both my wife and I are 27 years old and have gone through financial hell and back. Now we are on track to financial freedom, however we are not financial advisors or professionals, just everyday people. Share our journey from a negative networth and email us if you have questions or comments! :)


Monday, July 11, 2005

Some easy tips on how to avoid debt

Some people look at their credit card debt and wonder how their balances came to be so high when they have nothing to show for it.

Entertainment and new clothes are a sure-fire way to add large sums to your credit balance on a ‘buy now, worry later’ basis. The odd meal here and a new dress there doesn’t seem very large in comparison to purchasing a plasma TV, but these little indulgences can soon lead to the cost of a plasma TV and beyond….

Some easy tips on how to avoid debt

Eating out has to be one of the most popular pastimes of the 21st century. People with hectic lives prefer the convenience of a meal that is already cooked rather than having to prepare a meal and wash up themselves. However, with a little careful planning, those costly meals can be replicated at home and a dishwasher will take the hassle out of washing up, thus saving you a fortune in hefty restaurant prices.

The same can be applied for lunch. Food which is prepared at home and used as a packed lunch is 50% less expensive than buying unhealthy options from a takeaway. Vending machines also add to your debt problems when a few drinks brought in from home will save this added expense.

Never go for named brands at the supermarket. In some cases, you will pay three times the cost of a generic brand, which is just as good. With brand named items, your money is contributing towards advertising costs rather than the quality of the goods.

Use store coupons wisely. Do not think of them as an excuse to buy junk food that you would normally avoid. Use your coupons to reduce the cost of your weekly shopping and put your savings towards reducing your bills and freeing yourself from debt. is here!

Emergency Fund
2007 Roth Contributions
$8,000 Total

special thanks to ajaden webmasters