Like many others, one way my life would be simpler is if I could finish paying off my credit cards. I've felt like I've been treading water for the past few years with this intention. The pattern has been 1) get frustrated with being in debt 2) be really strict for a while with money 3) not be able to take it anymore and splurge 4) get frustrated and repeat. I'm slowly starting to set a new, better pattern for myself, and it feels good. Here are a few simple budgeting ideas that have worked for me so far... ways that make it feel less like a crash diet and more like a healthy plan I can actually embrace for the long haul.
1) Use cash whenever possible. I've heard statistics that people tend to spend less when using cash since they feel like the loss of the cash is more tangible than the swipe of a credit card. For a while, I practically never carried cash, but lately I've been taking out cash when I get paid and trying to use that for groceries, trips to Target, and spending money. I honestly have noticed a difference, particularly in the area of impulse buys of make-up, clothing, or random things I find at Target that look interesting.
2) Carry an index card with the balance of your credit cards written on it in your wallet. In order to spend money, you'll have to see this and it may be just enough of a "yellow light" to reevaluate an impulse buy. It also helps to update this as soon as you make another payment... keeping the momentum going. This one saved me recently from a sweater purchase at Banana Republic. Cute, yes. On sale, yes. But one look at this card and I thought of another gray sweater in my drawer and whether or not this sweater would improve my life as much as putting the money towards paying off my debt. Easy answer: not even close!
2) Carry an index card with the balance of your credit cards written on it in your wallet. In order to spend money, you'll have to see this and it may be just enough of a "yellow light" to reevaluate an impulse buy. It also helps to update this as soon as you make another payment... keeping the momentum going. This one saved me recently from a sweater purchase at Banana Republic. Cute, yes. On sale, yes. But one look at this card and I thought of another gray sweater in my drawer and whether or not this sweater would improve my life as much as putting the money towards paying off my debt. Easy answer: not even close!
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