If you’re either in debt or you’re afraid that you might encounter a lot of it someday, there are a few things that you can do in order to control your debt so it doesn’t explode on you.  These steps are actually fairly simple to follow and as long as you take action, it shouldn’t be hard to avoid that D word for the rest of your life.

Think negative for a second – I know it’s not healthy to think negative but when I say this, I want you to think of the worst thing that can happen to your family money wise.  What happens if you and your spouse lose your jobs or you lose a ton of money in the stock market overnight.  What are you going to do?  Always have a back-up plan and plan for the worst.  That way, if the time does come, you’ll be prepared for it.  If it helps at all, make sure you write down some steps that you can take if the time does come.

Always stock up the cash – No matter what your spending habits are, always make sure that you have at least 6 months of emergency cash set aside.  That way, if you don’t have any money coming in, you’ll be able to pay your bills for 6 months.  By the end of the 6 months, you should be able to find a job.  If you don’t have a job by then, you may want to consider moving or thinking about taking a temporary job at a retail or fast food joint.  Remember, no job is ever below you.

Have high credit card rates? Are you in debt right now?  If so, you may want to glance at your credit card rates and see what they are currently set at.  You may want to get a balance transfer on your credit card of your simply may want to call up the credit card company and ask them if they can lower your rate.  If they refuse, you can always set out and find a different credit card company.  There’s always a lower rate out there for you.

Concentrate on bills – I know paying bills isn’t fun at all but just think about it.  If you can attack your car payments and mortgage, think of how nice it would be to not have those bills at all.  Seeing that most mortgages are anywhere from 20%+ of your monthly spending, the more you pay per month, the less you’ll have to pay in the long run.

Controlling your debt or future debt isn’t really that hard.  Just by following these steps alone, you’ll be able to avoid it.  Just make sure you don’t spend over your head and you save at least 10-15% of each paycheck for retirement.  I don’t care who you are.  No one wants to work forever.