By the time you find yourself behind on your bills, it is often too late to turn it around. It is an uphill battle when you have to pay interest on debts. There are steps you can take before you reach this point of no return, which you should take to assure you don’t fall into a poor financial state. For most of us, there will be a time in our lives where we are ahead of the curve making more money than we are spending. This is the sweet spot where we want to stay for as long as we can. During the time we are making more money than we are spending, we need to make sure we are using the extra money effectively.
Many people make the disastrous mistake of spending extra money on materialistic items that are unnecessary. The money would be better spent on paying off debt, investing into a 401k, or keeping in a savings account. These are not the only options, but I think you get a good idea of where extra money should go. It should not go into buying jet skis, clothes, or luxurious jewelry that you probably do not need. Take advantage of the extra money you have around when you have it because this may not always be the case forever.
Getting ahead while you can… is what you should do! It is sometimes difficult to imagine doing badly when you are doing well, but it is very possible. It is also difficult to imagine doing good when you are doing bad.