Some people just can’t help spending on their credit cards. Everyone is guilty of bad spending habits sometimes, but credit cards just make it worse. When there’s a thing they just have to buy no matter what, they’re going to buy it. When they have to bet on their team at Unibet, or play in a casino even if they know they’re a bit short of cash, they’ll do it. This uncontrollable behaviour will eventually lead to debt. And it isn’t easy to escape debt, especially when you spend too much.
Of course, there are ways to fix bad behaviours, but it takes diligence, discipline, and support from other people. But the most important thing is that they need to realise that there’s a problem and that they must find a solution to their dilemma on their own. Because if they don’t realise that they have a problem, how can they find the solution?
Stop the bad spending
There have been a lot of suggested ways to keep from spending too much over the years. The most common suggestions are:
- Keep all your money somewhere safe, like somewhere away from you. Leaving the majority of your money at home or in the bank is your best bet.
- Bring only what you need. To know how much you need every day, make a budget of all your necessary expenses, plus add a bit more for emergencies. The emergency money must be kept somewhere that’s hidden and too troublesome to take out. Some would suggest the hidden pockets in your pants or inside your shoes.
- Finally, destroy or leave your credit card at home. Debit cards draw from the money in the bank directly, so leave it at home as well, unless it is also your ATM card, in which case, place it inside somewhere that’s hard to reach, away from your wallet. Just make sure it is secure, so you won’t lose it.
Some people find these tactics work for them if done diligently enough. Hopefully, if done over long periods, people may be able to save their money and curb their bad spending habits.
Taking it more seriously
There are, however, people who need a bit more help than just a few tips that they can easily forget. One thing they can do is to install apps that budget their money for them and scold them if they overspent. Such technology has been in use since 2014 and the results vary from person to person. Just install the app and follow the directions on how to use it. To make it even more effective, allow the app to access notifications and keep the media volume loud.
When you did everything you could
If these still fail to curb your overspending, maybe it’s time to cut your budget in other areas. Some people do this, where they spend on things they want and spend less on other things. For example, you like gadgets, and you buy lots of new gadgets the moment you’re out of the red. People like this might spend less on everything else: food, electricity, and might live in the smallest, cheapest apartments and never get into a relationship.
Now, this works for them. But there’s also the opposite way of looking at it that can work. Working longer hours and taking odd jobs during weekends could also increase your income. If you do this while being frugal in other areas, you may be able to create a margin where your bad self can spend whatever it wants without you worrying about money. And though this may look like a temporary measure, at least it should be able to keep you from going broke.