Developing Smart Credit Card Spending Habits
It is always convenient to have a credit card handy. But with
all the temptation lying around - from the stores, to the mall
and restaurants, it really is quite a challenge for some people,
and especially for women to be able to develop strictly
practical spending habits. So what's left for you to do? Well,
it is never too late to start acquiring smart credit card
spending habits. As they say, better late than never!
Here are some possible useful tips on how to have a more
manageable credit card account through smart spending habits:
*Purchase only your necessities as much as possible.
Thinking of using your credit card for that really small but
incredibly expensive designer bag? Before you head off to the
cashier and start handing out your credit card (and in turn burn
a deep hole in your pocket), try to asses the purchase first.
Ask yourself, "Can I really afford this?", "Will I be able to
pay this off in full once the credit card bill comes?", "Would I
have to sacrifice some (important) things in order to acquire
this?", "How often will I be able to use it?" and most
importantly, "Is it really worth it?" Although the last question
of course may vary from a case to case basis as some die hard
fashionistas may automatically deem this as of an utter
importance. Just be very objective and practical when it comes
to major purchases.
*Assess before buying
When you want something that can probably cost you an arm and a
leg before you'll be able to get it, you may want to think
things over first before maxing out your credit card and making
a mental note that you won't be using it 'till you've been able
to pay off your debt. If it's something expensive for the home,
but is not really much of a necessity (i.e. you can still manage
to live a normal life even without that item or if you can still
make do with a cheaper substitute (like a normal refrigerator
first before buying that incredible big stainless steel one)
then why not resist using your credit card in the meantime and
just save up for that huge splurge? Apart from being able to
save yourself a big chunk of debt, at least you can say to
yourself that you really, truly can afford that expensive item
and not just make a mental note of your would-be assets because
up until they materialize, they'll not be of any use to you at
all.
*Use cash as opposed to credit cards
Try to make the habit of using your credit cards only for
emergency as well as highly important purchases. Again, you have
to be very objective about what constitutes something as an
"emergency" or as "highly important". Medicine is important
especially when you don't have cash, or a wheelchair in case
someone gets an accident or if you're thinking of going back to
school or getting a job that requires you to always have a
computer handy then it's probably not a bad investment - just
don't get the incredibly expensive ones only for the "style
factor".
*Think twice on extravagant spending
Also, never ever abuse your credit card by using it whenever you
eat out or go clubbing! It simply isn't worth it, while you do
need food for nourishment, you shouldn't charge your extravagant
choices to your credit card because the cold hard fact is - if
you can't pay through cash then you probably can't afford it. So
when it comes to life's luxuries lay off your credit card and
try to find a way to make your dispensable income grow so that
you'll have more means to pay for your extravagant choices.
Keep these tips in buying before handing your credit card to the
cashier. This way, you can use your credit card without the
thought of not being able to pay for it. For sure, a credit card
debt nightmare is something you don't want to end up having.