Stability is extremely important for any successful investor. For most people this means living with your means or not spending more then you earn. Every time you over spend you are taking potential investments away from yourself.

Accumulating debts will make it hard to have the funds available to invest in the future. Make sure you stay away from credit cards. While it does allow for the ease of purchase it to often leads to impulse buying. Make sure when you shop you have cash in hand and only what you can afford to spend. Never spend money you do not have. Do not spend money you think you will have in the future. Debts are accumulated gradually and over time.

A budget can be very helpful in achieving stability. There are several budget software programs which can be downloaded online for free. This is an easy way to keep track of your expenses. Budgets help pin point places where money can be saved. Make sure once you form a budget you stick too it. Follow through is extremely important in saving, investing, and in life in general. Before investing even begins it is important to pay down debt.

Reports suggests that most Americans are in debt between $7,000 and $20,000 dollars. Most of which is what is called consumer debt