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Has credit card debt caused you to be stressed and anxious in your every day life? Has it caused your house to pile up wit things you don’t need?
If so, you’re not alone.
[bctt tweet=”In the US alone, there is over $762 billion in credit card debt.”]
Yes. 762 Billion dollars.
Worse, the typical American household has over 16k in cc debt.
While taking out a loan for university or continued education is arguably a good investment for some, the majority of credit card debit comes from spending on things we just don’t need.
Now, of course the “common sense” solution to the problem is you should just stop spending money you don’t have.
But like most “common sense” solutions spouted on blogs and talking heads on TV, it often times just doesn’t work.
The truth is, thanks to billions of dollars spent on marketing consumerism, credit card spending is more of a bad habit than anything else.
And as you know, at Pavlok we’re all about breaking those bad habits. Here are a few ways to help you reduce your credit card spending (and debt) in the process.
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Delete Your Saved Credit Card Information On Your Favorite Shopping Sites
It’s now easier than ever before to use your credit card to get the latest shirt or iPhone to help you keep up with the Joneses. And it wasn’t long ago, you had to physically get in your car and go to the store each time you wanted to buy something.
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Now? Not so much.
With 2 day shipping on Amazon and other online retailers you can literally rack up thousands of dollars in spending in just a few clicks.
The solution?
Make it harder for yourself to use your credit card. Start by deleting your saved card information from all your favorite places you shop. Delete it from Amazon. Delete it from your password and login app. Delete it from your browser.
Building awareness of your online spending habits is a key first step in crushing your credit card addiction for good. – Click To Tweet
Lock Your Credit Cards Up
Admittedly, this may seem silly to some, but in our experience the more resistance you create to prevent you from using your credit card the better.
Take all your credit cards and throw them in a small personal safe. Use a password on the safe that you don’t know by heart and keep the password written down in a place that will inconvenience you.
For example, you could keep the password written on a notecard in your car, so every time you had the urge to use your credit card you would physically have to go outside to your car to get it.
Of course, you should keep your debit card on your at all times, which will ensure you’re only spending money you can realistically afford.
Freeze Your Credit Cards
Another alternative to locking your credit cards up, freezing your credit cards is a fantastic way to really up that resistance. Take your cards and put them in a plastic bag. Load them in the freezer and watch technology do the work.
In many instances, it will be virtually impossible to read your card due to the ice, and you sure won’t be able to slide your credit card through a card reader if it becomes a block of ice.
Again, this might be extreme to some, but you have to give yourself the best chance to succeed.
Give Your Credit Cards To A Close Family Member or Friend
Out of all the options on the list, this realistically is one of the more practical options. However, depending on your relationship with money and your close friends and family this might not work for you.
A typical conversation would go as follows:
You: “Hey best friend can I use my credit card to buy the $200 pillow made out of the finest Australia sheep fur I just saw on TV?”
Friend: “……”
Winning.
What have you tried to cut back on your credit card spending? What’s worked? What can you do differently? Let us know in the comments below!
