- Control spending. In a "Keep up with the Jones" society it is easy to get carried away and spend more than we can afford.
- Finalize budgets for an entire year. Establish a budget you can afford and stick with it!
- Limit Credit. Be wary of offers of 6 months to a year (same as cash) transactions. If accounts are not paid in full, interest rates can exceed 24% (retroactive to day one of the transaction)!
- Pay Bills on Time. This is the first priority of a business. When there is a surplus we can buy those little extras that make life more pleasant.
- Keep Debt to Income Ratio at 20% or less. This is the most difficult factor to achieve but also the most important.
* Too late for the feds.
©Bane-Clene® Corporation 2009 Reprinting or electronically publishing this article is strictly prohibited without permission from Bane-Clene Corp.
