Credit Card Condoms
saving advice
tackling credit card debt, the habit of using the credit card when you
really shouldn't is a huge contributing factor for most people.
The most difficult part of changing this habit is recognizing it in the
first place. The fact that it's a habit means that you probably use the
credit card to purchase things without even giving it a second thought.
So the challenge becomes learning how to make yourself realize when you
are about to use your credit card in a way which is detrimental to your
finances.
There are a couple of parts to this process. The first is recognizing
that your current credit card habits need to change. Recognizing them
and setting up a plan of what can and what shouldn't be placed on your
credit card is the first step. This first step, by itself, however, is
usually not enough. You must also put into place a system that will
help you take notice so you don't fall back into your past habit before
you realize it.
A simple way to remind yourself and help break the habit is to place
your credit or debit card into a credit card condom (referred to as
such because they help "protect" you from unwanted consequences when
used properly). Basically it's simply a paper sleeve that you slip
around your credit or debit card that has some type of warning on the
outside so that you have to think twice before using it. While this may
sound so simple that it seems almost silly, it's often the exact
motivation a person needs if they are serious about decreasing their
credit card debt (if you aren't serious, then a credit card condom - or
any other tactic - isn't going to work).
While there are a number of sites that sell these sleeves for about $5,
you can also print you own credit card condom for free and give it a
try.
http://www.savingadvice.com/forums/showthread.php?t=11417
If you use your credit card more than you should and are serious about
trying to get your spending back under control, a credit card condom
may be exactly what you've been looking for to help curb your spending.
Sometimes it's little reminders that end up being the most effective
tool to help you establish your self discipline when trying to get
yourself out of debt.
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My Personal Finance Blog: http://www.pfadvice.com