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Set financial boundaries to avoid debt accumulation from "summary" of Debt Free for Life by David Bach
To keep yourself out of debt, you must set clear financial boundaries for yourself. This means establishing limits on how much you are willing to spend and borrow. It's about creating a structure that prevents you from falling into the trap of accumulating debt. Without these boundaries in place, it's easy to get carried away with spending and find yourself drowning in debt before you even realize it. One way to set financial boundaries is to create a budget and stick to it religiously. Your budget should outline how much money you have coming in, how much is going out, and how much you can afford to spend on different categories like groceries, entertainment, and housing. By following your budget, you can avoid overspending and accumu...
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