Saving Tip #3: Stay out of debt

Although, some millionaires or billionaires have debts, it doesn’t mean all of their assets come from there.  Debts may be necessary some times.  Rich people however, try not to have any.  They don’t like debt and they don't live by it.

When you do get in debt, try to minimize it or get out of debt as soon as possible.  It will be easier for you to budget your income.  You get to spend your money on stuff that are necessary and not think about how you’ll pay it eventually.

So before you swipe your card for that beautiful red dress, ask yourself "do you need it?"  If not, it’s not worth having debt.