Managing your debt is probably the hardest thing to do. In order to control your debt you should only buy things that you have the money for at that point in time. Meaning if you want a purchase a new couch instead of putting it on a credit card or getting a loan for it. You should save until you have the full amount to purchase it. Try to avoid using credit cards when at all possible. But if you need to use them pay more then the minimum payment so your not just fulling paying interest instead of paying anything on the balance of the credit card. Make a budget up and don't go over it. Start a savings account and put a portion of each paycheck into the account and save. So in case something happens and you need money you have it in an account.



From my own experience I was not so great on

. I made a lot of mistakes after high school. I had an issue with purchasing new cars. I had purchased multiple cars and traded them in one after the other for a period of about 2 and a half years. By that point, I was significantly upside down on the value of my car compared to what I owed on the car. So I had to file for chapter 7 bankruptcy. I filed over $22,500 and $21,000 of it was from loans on cars I had incurred. It has now been 3 years since I filed and I don't have any credit cards and I don't have any loans or debts in my name. I am happy to say that I learned my lesson. I hope everyone can learn from what I just said and not get so far into debt that there is no way out.