There are no magic formulas that will fix financial problems, but following are some suggestions that I found on the Net:

• Make a realistic spending plan and stick with it. Know when, what, and how much money you’re spending.

• When you find something in a store that you hadn’t planned to buy—don’t buy it.

• Use your credit card or debit card only if you can afford to pay for the items now.

• Avoid buying a house or renting an apartment that you can’t afford. As your income increases, try increasing your mortgage payment to pay off your house faster.

• Avoid loaning money to friends and relatives.

• Avoid going into business with people who are not good with money. Make safe investments.

[original source at michigan.gov]