Using a budget to get out (and stay out) of credit card debt

As your CPA and money lady, I talk a lot about getting your dollars and cents in check. The key to everything financial always comes back to — a budget (and credit card debt is no exception.)

In today’s episode of Your Money Minute with Tracy Stewart,CPA, let’s talk about staying out of credit card debt by working with a budget. Yes, it sounds like such a dreadful word — but a budget keeps you on target and out of debt.

Budgets work because every penny is spent with purpose. A budget will keep you from overspending — which is a nice way of saying “out of debt.” I’d need a little more than a minute to talk on the ins and outs of budgeting, but a great website resource to check out for strategies is ValueYourMoney.com, which is provided through the Texas Society of CPAs.

I want you to be financially independent — because it’s unbelievably liberating. How do you get there? The first step is getting out of debt. It may take time, but adopting good habits (like budgeting) will get you out of debt — and keep you out of it.

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