Try to stay out of debt as much as possible. By following the below 8 steps you’ll find yourself staying away from or keep yourself from sinking deeper into a financial crisis.

1 – Only apply for credit IF you need it. Make sure it is really a need and not a want. Dictionary.com defines a “Need” as a requirement, necessary duty, or obligation or necessity arising from the circumstances of a situation or case. A Flat panel LCD TV is not a need.

2 – If you use a credit card use it as a 30-day loan with NO Interest. Pay the balance in full every month.

3 – Do not apply for a loan unless you have a complete understanding of the terms, interest rate, introductory & grace periods, requirements of credit score, how it will be reported to the credit bureaus, etc.

4 – NEVER apply for credit for any kind of exchange or discount for the purchase.

5 – Watch out for and it is best to probably stay away from in-store financing. “No payment for 24 months” is not a good idea, someone is paying somewhere.

6 – No excuses – pay off the balances on your credit cards every month. Give up something if you need to but pay them off every month.

7 – Choose to use debt cards over credit cards – you’ll spend less!

8 - If you cannot write a check for your purchase, you probably should not buy it.