Five Ways to Not Use Your Credit Cards
Don't carry your cards-If you have to return home and grab your credit card before you make a purchase it should give you time to reflect on whether you really need to make that purchase. I only carry my credit card(s) if I'm travelling or am going to use it for a specific purchase. I've found this method very effective in reducing impulse purchases.
Freeze your cards-This is an old trick. Just put your cards in a large plastic bowl or glass filled with water and place it in the freezer. Since it will take a while to thaw you'll have plenty of time to think about your potential purchase.
Give away your cards-Give your cards to a trusted friend or relative. Having to ask for your card back and possibly explain what you are purchasing should make you think twice before making an impulsive purchase.
Cut up your cards-With your cards cut up you shouldn't be able to use them, except possibly online. Once you're confident that you can control your spending you can ask for a replacement card.
Wrap up your cards-Wrap your cards up in a piece of paper like a birthday present. As an added measure write a financial goal on the outside of the paper to remind yourself why you should not use the credit card and to strengthen your resolve not to use the credit card.
Bonus method-This method is probably not a good idea for those who are having trouble controlling their controlling their credit card spending. Put a large 0% balance transfer on your card. You won't want to make a purchase after that because you will usually have to pay off your entire 0% balance before you can pay off the purchase and stop paying the higher interest charges on the purchase.
I've used a couple of these methods and found them very helpful. I am sure that there are plenty of other methods and I am always looking for more.
Published by Andy Hough
I am currently a non-traditional law student. I am also running an internet business which I hope to develop more. I am also planning to start more online businesses as I learn more about how to run them. View profile
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2 Comments
Post a Commenti like the idea of freezing them, i didn't think you were going to mean it so literrally when i first read that! lol, great advice!
Great article! We live in a spend crazy world. If our creditors ever called in our debts, a lot of us would be bankrupt, a sad but true reality.