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Most people carry debt, whether it’s a credit card balance or the money they owe on a car loan or home mortgage. Debt is not necessarily a bad thing, but it can become a problem if it gets out of control. The Pennsylvania Institute of Certified Public Accountants offers tips on avoiding common mistakes in managing debt.

Don’t forget to pay with cash

If you have enough cash to pay for a purchase don’t put it on your credit card. Charging everything is an easy way to spend more than you intended and, in many cases, more than you can afford. Before reaching for the credit card, think about whether you’ve got the dollars you need for the purchase, either in your wallet or in your bank account. If you do, set the credit card aside and save it for bigger-ticket items.

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