Need help disciplining myself to stop using credit cards, anyone have some insight?

Answer 1

Cut them up and close them.

Answer 2

First you need to analyze where you're spending your money. Get a small notebook and write down EVERYTHING you purchase in a week. You'll be surprised just how much you're spending and on what.

Secondly, do not just close the accounts....this will have a negative effect on your credit score and you certainly don't want that! Part of your credit score is based on the amount of credit you have vs. the amount of credit you are using. If this drops rapidly so will your credit score!

Next you'll need to create a payoff plan for your credit cards. Make sure to pay at least the minimum payment on each card monthly and pay it on time. Late fees don't help reduce the balance you know!

Pay extra on the account with the smallest balance. Once you have this account paid off do not put anything else on it if it is a credit card. Once the smallest balance account is paid off take the money you were paying toward it and start applying it to the next account that now has the smallest balance. Continue this process until you have all of your accounts paid off or back under control.

Paying yourself out of debt is not going to happen overnight nor is it a painless process. You first have to understand where you're spending your money and identify areas where you can cut corners.

Once you've got those bills under control or paid off put the money in savings! You should have 6 months of regular expenses saved and not use them except in case of an emergency.

We have become a nation of spenders instead of savers. Break the trend! Do we really NEED all that we purchase or do we just WANT it to "keep up with the Jones'"? Look around your house...do you have anything you can get rid of at a garage sale or a consignment shop? You'll be surprised at just how much stuff you don't use or really need! Use the 12 month rule for this ...if you haven't used it or needed it in the past 12 months do you need to keep it? I know there are some things that are sentimental but keep those to a minimum and you'll not only make money on the "old" stuff but you'll convert them to cash and your house will be less cluttered too!

Good Luck!

Answer 3

Cut them up and replace them with a debit card tied directly to your checking account. Also, see the link below. This guy does financial counseling from a Christian perspective, has a radio show and gives really good advice about how to relieve the burdens of debt. I'm a CPA, so I can usually tell the sound advice from the shysters, and this guy is good and his heart is in the right place.

Answer 4

don't carry them, stop thinking that because you have a high limit that you have that money. Credit cards are sort of like a loan, don't use it until you are ready to pay it off responsibly...cut them up get rid of them. Until you can handle a credit card, don't get one...

Answer 5

Place the Credit cards in a fairly large container, submerge in water and place in your Freezer.Keep them frozen for at least 6 months, or longer That should help.

Answer 6

yes cut them up .pay cash only .there is no other way . or phone the credit card company and ask for a lower limit on your card.

Answer 7

Yep cut all but one of them up and dont use them anymore at all. Leave the one you have left at home in a safe spot. Do not carry it unless on a trip. Use only for true emergencies use cash or layaway for other purchases.

Answer 8

cut up the credit cards.

Answer 9

Either cut them up or get a debit card that is directly connected to your bank account so you can't spend more than you have.

Answer 10

Close all but one for emergencies.
Put that one in a tupperware like container with some water.
Stick it in the freezer.
That way, if you "need" to use it, you will have to thaw it first.