03 November 2010

Control impulse spending

It can be very easy to overspend, especially when using a credit card, but these three simple tips will help you control those urges to "put it on the card":

1.Think about the real cost of what you are buying - how many hours will you need to work to pay for what you are buying? If you can't pay it when the balance is due, how long will it take and how much more will it cost you?

2.Before you buy it, think about where you are going to put it and how often you are going to use it . If you can't think of where to put it or will only use it once don't buy it.

3.Use cash. Withdraw the cash you need for the week and use that for all your shopping. Once it's gone, you can't get anymore until next week. To stop impulse buying, leave your credit cards at home.

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