Times are hard and the economy isn't showing us any signs of recovery pretty soon. You hear it in the news a lot, about how the country got into this mess because we spend too much that we can't afford our rate of spending based on our incomes. It's a harsh reality that we all must come to accept.

We should no longer rely on debt to fuel our lifestyle. If we can't afford the way we live, what's the point of living that way when all you're going to do in the end is destroy yourself with financial ruin? You do not need to keep up with the joneses.

It's time for you to save and it's time to cut down on those credit card bills. Here are a few tips for you on how to avoid getting that dreaded credit card bill having an exorbitant amount at the end of the month.

1. Pay in cash, debit cards or checks.

Just so you know which type of products are in your price range, try buying them through cash or any other form that doesn't have a delayed effect on your dwindling bank account. Having a credit card would really be tempting for you to actually buy more than you can afford. The real culprit here ladies and gentlemen is ourselves. It may be a bitter pill to swallow but it's true. We cannot blame anybody else for our expenses.

2. Do not spend beyond what you earn.

There's this trend that's been around since perhaps your grandfather was still a handsome young man that goes like always place 10% of your monthly salary into savings while the remaining 90% goes to your expenses and perhaps spending money. If you read that again, that means that you should only spend a maximum of 90% worth of your monthly salary every month. Going beyond that figure might be a little bit too dangerous for your liking.

3. Abstain from shopping.

It's not as bad as it sounds really. It's not that bad at all. There are only very few people out there who are as lucky as we are to be wearing branded clothes, eating three full meals a day and retiring for the day into a nice big bed with thick blankets to keep you warm all throughout the night. Shopping doesn't really have to be so important to us. We can't keep being impulsive shoppers. It's time for us to draw the line and decide whether what we buy is a necessity or a luxury.

4. Do not have more than one credit card.

It's one thing to have a credit card and it's another to have several. Credit cards have limits on them for a reason so you don't go and spend too much to the point that you can no longer afford to keep up with the payments! Signing up for more credit cards isn't the answer. It's sticking to one and knowing how to manage your finances correctly. Being in debt is something that nobody likes to be in.