How to avoid taking on more debt than you need.

I'll tell you how to avoid potential pitfalls in order to be financially secure. Having more debt than you need can be a big problem because it can change many life situations. In the current situation where the country's economy is still underdeveloped, most of the loan operations are increasing. As prices rise, people borrow too much; Their monthly income and expenses are insufficient due to the large number of loans to repay. Before taking on new debt, pay off the existing debt first. Also, calculate whether you can pay back both new and old loans.

💣 Borrow as little money as possible.
Great days and seasons such as News, etc. We usually take small loans and use them for fun events. From then on, the more you spend, the more you end up in debt. Be careful. If you know what to use in advance, collect it in advance.

💣 Avoid long-term debt.
If you can repay the money in a short month, take it. As long as you can pay a small amount each month, it's fine. However, the longer the period, the higher the interest rate.

💣 Borrow honestly and openly.
Being transparent is the best way to clear debt. Let the people who will lend you money know your situation since they don't want to give you a loan. Don't even think about doing paperwork fraud. Once you get to that level, more difficult situations will follow. Not being honest can get you blacklisted.

💣 Use money in detail.
Set a spending amount and keep a detailed record of all the money in the account. That way, you can see what you spent it on and how much money you can spend. Saving money from small expenses, Setting up a savings account can save your money. Remember everything you use. Keep receipts. kyat Make sure to note the beginning of the plate.

💣 Give credit on time.
Making regular loan repayments can help you get a good credit record. If possible, if you have to repay more than the regular repayment amount, make it faster. This effort helps to reduce the loan.

Finally, very important financial security is not to let yourself get into debt and spend too much.