6 Ways You Can Stay Out of Debt

In this blog post I wanted to share with you on 6 ways you can stay out of debt. I primarily made this post for those who are getting started in the real world of work and responsibility, or for those that want to manage their money wisely. The tips here will help you get on the right foot early so that you can have the lifestyle you desire, without worrying about how you are going to pay your bills and be able to take a nice vacation once in awhile.

So here are the 6 ways you can stay out of debt:

  1. Use a credit card with a low limit 
  2. Start freelancing or contract work
  3. Build your personal brand online
  4. Start small investments
  5. Start a business
  6. Spend wisely

So let’s go over each tip. Remember this resource isn’t a all in one solution, but more of a means to get you motivated in making smart financial choices so that you can have the life you want.


Tip 1: Use a Credit Card With a Low Limit 

Now you’re probably wondering why the first tip is to get a credit card, when the purpose of this blog post is to educate you on how to stay out of debt.

Well the reason I share with you this tip is because you want to build your credit up to get yourself in a good position to make larger purchases, which includes a new car or a house. Not only that, with a better credit score means lower interest rates, which means more money you can save overtime. 

But you must do this smart. Go with a credit card with a low limit of about $1,000, and no more than $2,000. You want the balance low so you don’t start feeling compelled to go on a shopping spree. Use this credit card to make small purchases only, or for emergency purchases, like a car repair.


Tip 2: Start Freelancing or Contract Work

Let’s face it. We’re in a day and age now where we can’t just live off of one stream of income. Your 9 to 5 may pay you good, but only enough to where you have a lot of money left over to invest or do the things you love to do. 

You need to think about other avenues you can take to make some extra money. That’s where freelance and contract work comes into play. The great thing about this avenue of making money is you can do this around your work schedule, like on weekends.

Everyone has a skill or something they’re good at, which can be used to serve others who need your expertise. Perhaps you’re good at graphics design, customer service, marketing, technical support, or sales. If you are, start now.

You can use websites like fiverr.com, upwork.com, or freelancer.com to find freelancing work, or just set up your own website and drive potential clients to there before they hire you.


Tip 3: Build Your Personal Brand Online

Trust me when I say, influence is golden in today’s world. If you have an audience, you have power.

Many popular influencers are today’s big celebrities, with some of them actually making more money than Hollywood stars. Yet they set themselves apart because they’re constantly engaging with their audience since they know the importance of for one human connection, and two, providing value to build trust.

Though you shouldn’t become a influencer only for the sole purpose of making money, if you’re passionate about what you’re doing, and your message is targeting the right people, the money will come overtime. Some of the avenues of making money as a influencer includes:

  • YouTube Ad revenue
  • Sponsorships and working with brands
  • Fan funding and donations
  • Crowdfunding support for projects
  • Selling products online
  • Starting a business

You get these avenues because you’ve taken the time to provide value to your audience to gain their trust, and thus they’re following your lead because they believe in you. As long as you stay authentic and transparent, you’ll maintain your good reputation.

Just like in the second tip of this blog post, you need to find out what you’re good at. Perhaps you’re an expert in beauty and makeup, perhaps you’re passionate about fashion, or maybe you’re good at gaming.

Be confident in how you share your message and articulate that in the form of videos, photos, podcasts, or blog posts. I recommend implementing 2-3 of these avenues across sites like YouTube, Instagram, SnapChat, iTunes or Tumblr, to name a few.


Tip 4: Start Small Investments

Maybe you’ve never invested before in your life. That’s fine! It’s time to start today. Start making some of that money you’ve earned work for you. I’m not saying you should make big investments, just start out small.

I once used eTrade to invest in stocks, and made a good amount of money as a result. But I was investing in the couple of thousands at the time. However, you don’t have to. You can use mobile apps such as Stash or RobinHood – Stock Trading to invest as little as $5 into stock.

That’s right, only $5!! That’s how much you pay for your coffee each day. Put that into something that will give you a small return on your investment. With the risk being very small, you don’t have much to lose. And don’t invest in just one stock. Invest in different stocks so you keep everything diverse. Do everything small starting off before going for the gold.

And if stocks doesn’t work for you, then there’s other investment opportunities like 401K or CDs, but bare in mind those are long term investments.   

The good thing about this kind of investment is that you’re not doing a lot of leg work yourself. The only thing you’re doing is monitoring the stock prices to see if it goes up, down or stays stable. So have at it. Give it a shot


Tip 5: Start a Business

Where in tips 2 and 3 you’re doing the work to finish freelancing projects or establishing your own influence, in this tip you’re building a foundation that could potentially work on its own without you always being there.

Think of it like raising a young child. With love and care, you’re putting in a lot of time and effort to raise that child until he or she is all grown up to take care of themselves. That’s what you will do when starting a business.

You could start a online reselling business selling t-shirts and merchandise, be a consultant for small companies, or you can build something completely from the ground up. It depends on if you want to make money quickly or wait for huge long term gains. If you just want to make an extra $2,000-$5,000 a month, then doing something small is the way to go.

Take the time to get a website and business plan in place, make connections with people who you would like to work with, while also looking for suppliers. Then go for it!


Tip 6: Spend Wisely

This is the most important tip of all. All of the other tips I’ve shared with you, even if you prove successful in any of them, are meaningless if you’re not wise with your spending.

I remember my cousin, who’s a pastor, he talked about how people would be worried about their money, and would say if they could only have more money they’d be alright. Then he would say that’s not true cause if you’re not wise with the money you have now, you won’t be if you had more of it.

So basically, you have to use common sense when it comes to your money, otherwise you’ll be in debt.

To put it this way, if you have to think hard about how you are going make the monthly car payments once you drive it off the lot, then don’t purchase it. If anything, buy something more affordable if you need it.

Only spend money on the things you really need. And if there’s something you really want, think about if you need it right away, and if it’ll help you towards your goals. If it doesn’t, then either wait for it to go on sale or don’t purchase it at all. Remember good things come to those who wait. 


So I hope these tips will be of help to you, so that you get started in taking action. Don’t wait until later. Get a plan in place now on what you want to do in life, and where you want to go. Then just go for it. Please check out my YouTube channel for more lifestyle videos, and subscribe if you’re new to my channel.


Here’s a Couple of my Overwatch Videos on YouTube

Hi Everyone. It’s been awhile since I’ve written a blog post. Honestly I still need to learn time management, especially since I have a lot that I’m working on. One of the things I’m working on is building my YouTube channel. I’m still figuring what exactly I want to share with my target audience, but one thing is for certain, gaming is on that list.

I’ve been a gamer since I was 5 years old. I mainly play on my Playstation 4 Pro. I’ve been a Playstation fan since Sony’s first console years ago.

One of the main games I’m playing is Overwatch, a game I slept on for almost a year. It wasn’t until recently I gave it a try, and fell in love with it. The above video is footage of my best gameplay thus far. But below is a video of some of my worst gameplay:

I plan on playing Overwatch for as long as the game is supported by the great people of Blizzard Entertainment, which knowing them will be several years. There’s something about team based shooters that intrigue me. Maybe it’s because there’s that need to work together as a unit to fulfill objectives, rather than just going out on a rampage.

Again gaming videos are just one of the things I plan to share on my YouTube channel, and will share on my blog from time to time. But I also plan to share more, another being lifestyle content. So please be on the look out for that. Thanks again for checking out this post, and please check out my YouTube channel to see my gaming and Vlog videos I’ve posted.