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from: Breaking the Habit: How to Stop Using Your Credit Card
Credit cards have offered immeasurable convenience to people. However with unmanaged debts these can file on top of each other and you may end up having difficulties on paying the debts on time. This may then lead to unwanted credit harassments by the collectors if it will take you a long time to pay the default on top of its increasing interest rates. When you find yourself getting troubled with your rising debts, may be you can reflect back and break the habit. Learning to stop using your credit card may be hard thing to do, but it only asks for little sacrifices.
Close, Shred and Leave
The use of credit cards has indeed made life easier that you do not need to bring cash. Nevertheless, it has one condition, pay the debts you owe on time. When you fail to meet this requirement, this can give you problems. Luckily for you, you can find ways to solve your problems.
As there have been many products in the market, you get tempted in buying those, even without thinking if you are capable of paying it. With only a swipe of the card, you get to bag your wants. A sure means to stop using your credit card and effectively cut down your invalid expenses through credit cards, you can think of having your account closed. Calling the service provider can be a simple way to deactivate your credit card. This way you get to stay away from impulsive buying.
When you see a scissor, you can have your credit card literally cut. Or you can also use the office shredder to do the task. The shredder shred papers as well as plastics. This can be an effective means to stop using your credit card. Just make sure that your credit card number is unidentifiable so that it cannot be used by other persons who have the intentions of using your credit.
If you cannot do the shredding, you can put out your credit card out of your wallet and leave it at home. This will let you be incapable of using your card when you do shopping and also help you avoid buying things that you don’t need.
The Shock and What Your Can Do About It
Credit cards may help you when you do not have the money to spend for the item. Also it defers your payment and you can have it paid for a year or two depending on the credit terms. However, you might be able to think well that it may be doing you the reverse. Purchasing on credit also means having to pay for the interests aside from the principal amount. Studying the figures well may give you a shock and may let you think twice before swiping the card at the terminal.
For example, if you owe $1,000 and it bears 14%, with an instalment period of four and a half years, you got to pay $25 each month. In short calculations, the sum of the interests will bear $345.55. That would be too expensive for the convenience it should have offered on the deferment of the payment.
Having learned this should let you reflect if credit cards are really doing you benefits. Learn to break the habit and stop using your credit card. Getting the right discipline can help you control yourself from impulsive purchasing and unneeded wants. Try to weigh first if you have to use your credit card or you can just use your money for the buy.
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