It seems that in this day and age, everyone knows at least one person who has gotten themselves into too much debt. This can be due to a variety of reasons, such as overspending on a credit card and not being able to pay it off, to store cards, to gambling.
Whilst for those people, debt consolidation is probably the easiest way out, it is, of course better to not get into debt in the first place! So, how does one avoid getting into debt?
The most important thing is to find whatever store cards you have and throw them away. This might sound harsh, but it removes any temptation to spend hundreds of pounds that you may or may not have on clothes, electronics etc. The compound interest rates on these cards in the event of a missed payment can be quite horrendous.
The next thing to do is to look at are your credit cards. Do you really need more than one? Can you pay it off in full each month? At the very basic level, it is vitally important that you pay off the minimum payment each month; but even this will only scratch the surface. It is best to not use the card at all unless you can pay it off in full that month, or at a push the next.
The fundamental thing to keep in mind is to only spend what you have. Only buy what you can afford. This is the best way to stay out of debt after all!