Staying Debt Free in a Struggling Economy

It seems like prices will never stop going up. The Labor Department reported a 1.1 percent increase in June's consumer prices. Meanwhile, wages fell by .9 percent. It doesn't take a mathematician to recognize this is formula for debt. The gap between income and expenses gets wider and unless you want to fall into the gap - and I don't mean the store - you have to do something about it.

In 66 Ways to Get Money for Debt, I mention several ways you can get extra money to pay off your debt. You can use these same tactics to stay out of debt when there's suddenly not enough money to pay the bills. For example, telecommute if your employer allows it. Reduce your cell phone's rate plan. Figure out how to make money from a hobby.

What are you doing to stay out of debt?

• 5 Spending Habits That Lead to Debt
• How Much Can You Afford to Charge?
• 10 Signs You're Headed For Credit Card Debt