A cliché is defined as “a saying, expression, or idea which has been overused to the point of losing its original meaning”. Often times these novel phrases can get annoying to the point where you no longer even pay attention to them. In the world of personal finance, there are many cliches that most of us have heard more than several times. Some of these pieces of advice sound like something your mother or grandmother would tell you when you were younger. Although a cliché generally loses its meaning, there is still some quality financial advice in these overused suggestions. These are 3 cliches that are helpful when avoiding debt and cleaning up your personal finances.

1. “Don't spend money you don't have.”

Much like many other cliches, I have grown up hearing this gem from my mother and father on a weekly basis. In todays “spend first, think later” society, this piece of advice should be followed by everyone. We are in the credit card age, and people are spending money that they don't have and aren't going to have. The idea of not spending money that you don't currently have is very simple, but it can be all the difference between a stable financial portfolio and debt consolidation or debt counseling. Remember this advice when you want to pay for that $100 pair of jeans with your credit card and you only have a part time job.

2. “Save your money.”

The idea of saving money has been a longstanding piece of financial advice. Although this suggestion is usually scoffed at by younger, wilder spenders, saving money is something that our parents and grandparents did to get through tough times. Now that America is in a large economic downturn, saving your money is something that is all of a sudden relevant again. Saving your money can give you financial freedom. It gives you responsibility, willpower and, most importantly, it gives you reserves in case of emergencies. You can definitely tell the difference between people who have been laid off but saved money, and people who lost their jobs and didn't save a dime.

3. “Pay your bills on time.”

I don't know how this suggestion ever became cliched, but it has and it is unfortunate. I've actually seen people laugh at this piece of advice, and it boggles my mind. There are so many bad things that can come from not paying your bills on time. First off, it is like credit score suicide. Not paying your bills on time will make future purchases much more difficult. You will have to deal with loan application denials and high interest rates. Further more, not paying your bills on time can become a very bad habit if you don't look at your bills as a high priority. I don't think the phrase “pay your bills on time” can be said enough times.