5 ways to avoid relying on credit for everyday purchases

By now, the higher cost of goods and services may have prompted you to consider using buy now, pay later plans, credit cards or other options to cover everyday expenses. These options can be easy to turn to in a time of need, but doing so frequently could indicate trouble ahead.

If that’s your circumstance, you’ll want to have a plan long before your well of credit runs dry. By exploring community resources or seeking the help of experts, you may come up with a better solution that won’t derail your finances.

Here are some actions that can lessen reliance on credit for essential purchases.

1. Refresh your budget

Review debit and credit card statements to take note of all expenses, including debts. Look for opportunities to eliminate unnecessary purchases or switch to less costly alternatives, and explore options to lower interest rates on those debts. Contributing to an emergency fund — even just a little at a time, if you can spare it — can further prevent reliance on credit.