Hide Your Own Money To Avoid Debt!

Hide Your Own Money To Avoid Debt!

You probably believe that everyone else is hiding money from you already -- why don't you hide money from yourself, too?! There are many creative ways to stash some cash to help you avoid going into debt when you need some extra funds.

Here's how it works: If you receive money on a regular basis from a source other than your paycheck, put that money in an account that you don't regularly spend from. If no account is safe from your spending habits, give the cash to a trusted someone (i.e., your spouse or a parent) to watch over for you. For example, many of us receive expense reimbursement checks from our employers. This is often "extra money" that you can stash without missing.

When vacation or holiday time rolls around, use your stashed cash instead of your credit cards. In this way you can avoid adding another layer of debt to your household.

- Rick Fields