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Tips To Avoid Overspending On Credit Cards
hopping or buying things there is no turning back.
is one of the guilty
pleasures in life and with 2. Set your own credit limit
the presence of credit cards,
spending seems to be more like a Aside from the credit limit set
habit and way of life. Credit by the credit card company, it is
cards make one's life easier but advisable that you set your own
it could also make one's life a credit limit that you can follow.
living hell once you find It would be good if it is
yourself drowning with credit significantly lower than your
card debt. standard credit limit so that you
could actually be in control.
For people that are not yet in
this situation, good for you (and 3. List down all your expenses
read on anyway to make sure you
recognize the danger signals) but Having a list is really helpful
for those who are just inches in determining the things that
away from that situation (or you are buying and purchasing.
worse), pay attention because Listing it will help you track
this might actually save your down the things that you put your
life from overspending your money into and trust me, half of
credit cards. it is really not that important
to your life.
1. Know your credit limit
4. Don't succumb to the following
The first thing that you should sales pressures
know is your credit card limit so
that you know if you are going Advertising on TV, radio, or
overboard. Always keep in mind elsewhere is meant to not only
that once you cross that limit, inform but to tempt you into
making purchases you would
otherwise do without. Some common 6. Keep your credit cards at home
techniques are associating the
product with heroes, as a status
symbol, as a way to be more If you are the type of person
attractive, sexy, or smart. Avoid that carries at least 5 types of
purchase decisions based on credit cards in their wallet, I
advertising techniques because suggest that it would be better
they are cleverly done solely as if you just carry one or two so
a way to get you to transfer your that you will not be tempted to
money to the company that's doing use all of them. If you cannot
the advertising. avoid the shops, then just leave
your non-emergency credit cards
5. Avoid shopping unless it is at home.
really needed
7. Keep your receipts
It is not easy to resist
temptation especially if the name If you are still not aware that
of that temptation is the word, you are on the verge of
"sale". Avoiding stores would overspending, keep your receipts
help you overcome the instinct of for a week and then total all the
buying and using your credit card expenses that you did for that
unnecessarily. It would be better week. This would really be an
if you did not see the things effective wake-up call, more so
that would tempt you. Just use even than coffee for your body!
your imagination! Also avoid
buying just because there is a 8. Carry cash
coupon, free gift, or other
incentive attached, unless you Instead of making the habit of
really need the item. paying through credit cards,
develop a habit to depend on least half of your purchases were
paying transactions by cash so "bad". So use that as a guideline
that you could really be able to to help you avoid making similar
keep track of your expenses. Cash bad purchases in the future,
is easier to count rather than perhaps by postponing instant
card transactions. It will also gratification by "sleeping on the
make you more resistant to decision". More often than not,
impulsive purchases. you'll wake up in less of a
buying mood than you were the day
Do this exercise: Sit down and before, and you won't miss the
try to remember the major item you would have purchased in
purchases you've made in the last the slightest.
year or more (or go through your
old receipts to jog your memory). 9. Recognize the signs that you
How many of those purchases would are overspending
you consider to be a "bad"
purchase? In other words, was it Once you realize that you are
something that you haven't really having a hard time paying your
used, worn, or wasn't as monthly credit card statement,
important as you thought at the that is already a sign that you
time? are losing your control over the
matter. Be aware of these things
Of those major purchases (items because it is a warning to be
that cost maybe $100 or more that heeded.
weren't necessities), how many of
those purchases would you repeat 10. Know your limitations
if you knew then what you know
now? Being aware of yourself could
actually save you a lot of money
You'll probably find that at because you already know the
things that you need and the use, and absolutely necessary
things that you don't. Knowing sometimes, but if one abuses the
your limitations could help you usage of their convenience,
stop the unnecessary spending overspending results and it can
through the use of credit cards. really be a big burden for a
person.
Credit cards are convenient to
About the Author:
Debt can destroy your chance of wealth, and debt stress can ruin your health. Find out how to reduce or eliminate your debt using easy techniques, and get a free report, at:
http://www.credit-is-a-four-letter-word.com
Source: www.isnare.com
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