3 Tips for Young Adults to Stay Out of Debt
You’ve just moved out for the first time, and if you’re lucky, you have yet to accrue any real debt. If you’re looking to avoid the plague that has spread across America, sucking their finances dry, then you should use the following tips to help you save money and avoid outrageous debt.
Forget Cable, Sign Up for an Online Subscription
Netflix continues to dominate the video streaming industry, but there are others that you can use to get your daily dose of entertainment. Cable bills are high and rarely offer you the shows and movies you really want to see. Some days, you may not even flick your television on. So why waste money on cable when you can sign up for a subscription that is a fraction of the cost and allows you to watch whatever you want? Not to mention, there’s no contract — so when money gets tight, you can just not pay and then restore your account whenever you’re ready.
Switch to Prepaid Debit Cards
Credit cards are a dangerous path that you should avoid. There are other ways to build up your credit, such as financing furniture and vehicles. Since you won’t be needing a credit card, you don’t really need a bank account either. You can instead use a prepaid card that comes with a routing number and account number, so that you can have payroll and government checks directly deposited into it. At least this way you never have to worry about overdraft fees.
Using coupons isn’t just for moms and old people. Starting young is a financially savvy way to get the things you need without going totally broke. You can get great deals on clothes at stores like American Eagle, or even on sports gear, shoes, appliances and furniture. Groupon has over 50,000 coupons for over 8,600 stores, which means lot of coupon clipping for you. If you like to shop online, great because these can be used online as well. There’s no fee or purchase required to start using Groupon Coupons, so check it out today!
Saving money is a part of growing up and in today’s economy, it’s more important than ever. Use these three tips to help get you started with setting aside more cash for your piggy bank.