Ways to Avoid A Household Debt

Ways to Avoid A Household Debt

Ways to Avoid A Household Debt Regulating household expenses is not the only task a wife has. All the daily needs and regular expenses must be carefully thought out with your partner.

To regulate money is not a task for the wife only. Together with the husband, both should manage the household expenses. If, by any chance, one of them cannot do that and is used to a consumptive life, the household expenses will bloat up and result in taking a debt to fulfill what the household needs.

You should have already known that debt is not a solution to financial problems. It is a habit that must be avoided by anyone. It is not recommended to have a habit of taking a debt and doing “The digging and closing of the hole” to pay it off.

Let’s take a look on ways to avoid debt a la Whiz below:

Also Read: Tips for Securing Family Finances, Must Try!


6 Ways To Avoid Debt in A Household

1. Make a Shopping List

Ways to Avoid A Household Debt

You must have done this often, going to the market to buy two products but to buy another five products that actually are not needed. To avoid this kind of thing happening, you must make a shopping list.

Since other than serving as a reminder on what we have to buy, a shopping list will prevent us from making an impulsive purchase. 

Don’t forget to estimate how much your expenses should be and bring enough money for it. By bringing limited money, you will think twice about buying something.

2. No Buying Products in Installments

When we want to buy expensive products like laptops, motorbikes, gadgets, and others, we will most likely be offered an installment program as a way to pay them. It may be helpful when we need that product badly but have no money to pay for it.

But if we don’t need it, it is better to hold on to the desire to buy in such a way. Because, buying products through installments is the same as being in debt.We may be able to pay the debt at the first installments, but what if our income suddenly becomes unstable, we will not be able to pay off the rest.

Therefore, try avoiding buying products in installments, especially when we don’t need it at all.

3. No Buying With Credit Card

Ways to Avoid A Household Debt

The usage of credit cards is still a financial problem in a household if you can’t use it wisely. Credit card may give the holder financial freedom, but if it is not controlled well, the bill will be so high that it will be difficult to pay off.

This is the reason why rather than using a credit card, it is better to manage the finances well.

4. Exercise Waiting Before Buying Something

When you want to buy something, try to wait it out for sometime to know whether that urge remains or not. 

That restraint will be useful when you go to the mall and see a product that you want. Try thinking about whether it has to be bought now or later. Or if you will regret not buying it immediately. Try asking yourself whether it is necessary for you.

By making such considerations, you will realize that those things you want to buy are actually insignificant. Other than that, try to be patient and wait for the right time. It is possible that you may get a discount on another day.

5. Don’t Forget About Your Emergency Fund

The important thing you must prepare when you are married is the emergency fund. Put aside some of your income to be used in case of emergency. If you have an emergency fund, you will not need to ask for a loan or take out a debt when you are cornered.

Considering such an importance, an emergency fund is much obliged to be owned by every couple. Each time it is required to put aside some big fund, take some bit by bit from it. That fund will surely be beneficial in the future.

6. Built a Healthy Financial Habit

Ways to Avoid A Household Debt

One of the ways to avoid household debt is by building a healthy financial habit. Because, our income is not for ourselves anymore but for everyone in the family by this point.

Building a healthy financial habit can’t be done quickly. You should try to cut the cost for daily necessities, spend wisely, and manage the finances for the future.

By learning to control your expenses, you will feel a pretty good and healthy financial condition as a result. There will be no more debt to fulfill the family's daily needs.

Also Read: The Role of Women in Family Finance


Those are 6 ways to avoid debt in a household. Have you done it? If not, start it from now!

To help manage finances, you can use Whiz financial apps. the Whiz Money Management AppThere are many unique features that you can use simultaneously with your family. You will not need to worry about any debt. 

So, what are you waiting for? Feel the ease for your finances by using Whiz!