The answer to prevention of debt accumulation is fairly simple: Do not spend beyond your means. On the contrary, doing it is an altogether different matter. In today’s world where everything can be had for credit and the temptation to get what you want NOW and not when you can afford it is very strong, avoiding debt accumulation is almost next to impossible.
Gone are the days when we save for our wants and spend on our needs. Today, the tendency is to avail of credit even if it is not necessary. Credit is good but should be handled wisely to be of real benefit to the user. Otherwise, it can be a very serious burden to carry.
