Top 3 Easy Ways to Protect Yourself from a Debt Ceiling Default

US Capital building in Washington DC

US Capital building in Washington DCIf the US Government does not raise the federal debt ceiling limit by its deadline, there will be serious repercussions felt throughout the American economy and around the world. 

Many people are fearful of the results that could take place if the debt ceiling is not raised. But, there are several things that you can do in order to ensure that your personal finances are in order should the United States government default on its debts.

How To Protect Yourself from a Debt Ceiling Default

Stick To Your Budget

One of the best things that you can do if the United States government defaults on its debts because of failing to raise the debt ceiling limit is to stick to your monthly budget. You should have a written monthly budget already, and a time of crisis where the world financial markets may see disturbances is not a time to deviate from your budget.

Dave Ramsey is famous for often saying that you need to have a plan for every single dollar of income that you earn. Every dollar needs to have a name whether it is allocated for rent, electric, credit card debt, or something else. You should know where every dollar is going before the month even begins. Now is the time to stick to your budget.

Read more