5 Steps To Stop Over Spending
“Money money money, must be funny – in a rich man’s world” So true and so not funny! Are you paying interest on purchases on more than one credit card? Do you feel the need to shop compulsively every now and then? Do you feel shopping makes you happy when you are sad? Are you struggling to meet your debts because of over spending? If this is you, listen carefully – You need to STOP! I believe that credit cards are pure evil. I have been a slave of this devil, gone to hell and come back with a lot of help from friends and family. If you are heading the same way, here are 5 steps you can take to stop over spending, and get your life back.
1. Pay by cash or debit card
This is step number one to sort your life out. Do not carry your credit card in your wallet or when you step out of the house. It’s simple, you will not overspend if you don’t have the cash. As easy as it sounds, it is not. I was addicted to my credit cards and felt incomplete without them. Whenever I was deciding to not carry my credit card on me, the question “What IF I need it?” haunted me. I know that this is going to take a lot of effort to put into practice but believe me, it will change your world. When you spend cash or use a debit card, it’s money going out straight from the bank. If you are over spending, this will hurt your pocket and hurt you bad.
2. Make a shopping list and stick to it
What do you do when you need to shop? Do you simply take the car keys and go to the mall? Okay, here is the deal – stop doing that! Because if you don’t have a list and you hit the mall, you will pick up things that you may not have bought or thought of, had you made a list before coming. In hindsight, I used to do this so much! Going to the mall to buy a few little bits and coming back with a loaded trolley was like a routine. If this is your routine too, I reckon that you make a list of things that you really need before you head off. Hang on, it does not end here. Promise yourself that you will not buy anything other than what’s on the list.
3. Cut all credit cards
Yep, it’s the happy time of the year. Bring those scissors out and cut all but one important credit card that you can use only in times of emergency. This is probably the most important step to repair the damage caused by over spending. It’ll bring a smile on your face to see all the cards falling in the bin liner. If you get calls from the bank of any company again, refuse to even listen to one line. The person on the other side is out to sell and does not know your situation. They are out to make a buck, and you are out to save one. After all these years, I have finally got rid of all my debt. I feel so strong and confident when I politely say NO to anyone who offers me a credit card or an overdraft facility. Say No!