Freezing Your Cards and Other Zany Ways to Stop Overspending
Are you spending so much that your credit card is cowering in your wallet? If you are giving your cards such a workout that your accounts are often empty, you need to stop overspending. This can be as tough a challenge as stopping smoking, which is why some wacky tips are in order:
Freeze your credit cards. Yep, you’ve heard of this one, but it does work. The idea is that you place your credit card in a bowl of water and toss it up in the freezer. The card is in your freezer, not your wallet, where you can whip it out any time you see a sale. Plus, to use the card you need to thaw it out slowly - which gives you time to think about an impulse purchase. Note: this tip will not work if you know your credit card number off by heart and can just call up a store or order online with your memorized number.
Eat at home before you head to the grocery store. If you go shopping on a hungry stomach, you will spend more because everything will look good and prepared meals (which are worst for your waistline and wallet) will look best.
Quit browsing. Window-shopping, trying things on, flipping through catalogues, and even looking at ads in your favorite magazines all stir up desires for specific items you don’t need. Make lists of what you need and do quick run-throughs to buy only what you need when you need it. Call up stores and get yourself off mailing lists so that you stop getting those too-tempting catalogues.
Turn off the TV. The ads on TV are designed to make you want, want, want. The clothes and items you see on your favorite shows also tends to make you want specific items. Read a book, go out and play a game of tennis, or listen to some music. All are better options than watching ads on TV.
Procrastinate on purchases. When you do need something - new shoes, for example - tell yourself to wait another month or two. It will reinforce the fact that you don’t really need a new item and you will save some cash, too. Plus, you may find that taking your shoes in for new heels makes them as good as new so that you don’t need a new pair after all.
Set up an exercise schedule. If you get a “high” from shopping, try to find a runner’s high by working out instead. As an added bonus, working out will make you healthier and will keep you busier so that you can’t spend as much. Don’t sign up for a new gym and buy yourself new work-out clothes, though. That’s not exactly the point. Instead, meet up with someone for walks or dust off that old exercise bike.
Make a game of earning more. Rather than getting your kicks from spending, try to get them from earning. This month, make it a game to see how much extra money you can earn. If you make $2000 a month usually, volunteer for extra work, ask for a raise, hold a yard sale to sell off junk you don’t need and generally go out of your way to earn. You might find a new addiction - and, in the long run, earning is far more fun than spending - believe me!
I love your suggestions. I’ve got one more: cut your entertainment spending. Many people spend $60 or more a month on cable and who knows how much on eating out or going to the movies, but do they really need it? I check movies and books out at the library for free. My fiance and I play cards about one evening a week. We make cooking at home fun by trying new recipes and cooking together. We play music together with our friends one evening a week. I had a professor once who used to give suggestions for “cheap dates” such as the art or natural history museum, picnics, or walks in the various parks in our city, and we sometimes take advantage of those, too. With all this to do, who has time to eat out or go to the movies?