Credit Card – Convenience or Temptation?
One of my friends told me that when he leaves the house, he intentionally leaves the credit cards at home. At the start of the week, he goes to the ATM and withdraws his weekly allowance. His allowance is the only cash he allows himself to spend throughout the entire week.
My friend keeps his credit cards in a place that he cannot access easily. Stashing the credit cards in his basement, attic, or the middle of his freezer typically curbs his spending cravings.
Similarly, my family’s budget is under control because I choose to keep it under control. I am responsible for my family’s financial well-being. For this reason, I am strict with my purchases.
Before I commit to a purchase, I evaluate exactly what use I would get out of the item. If it is a necessity, I make the purchase.
If the purchase is unnecessary, I leave the store and give myself 24 hours to think it over. If by the next day or even the next week, I still want the item and have found a good use for it, I make the purchase. However, most of the time, I choose not to make a second trip to the store. Sometimes, this is real hard but I know for sure In this way, I curb my impulse purchases.
Due to my efforts, my family enjoys extra money for activities spent together. We can use that money as a family, by going to an event, taking a vacation, or having a nice meal with our children.
I don’t put the credit cards down as my friend does. I know very well that I care about our financial security. I will not put my loved ones into financial distress and sufferings because of my spending habits. And so far, I am doing well in self-discipline.
Today, let us make conscious decisions about our purchases. We replace impulse purchases with peace of mind, family well-being and financial stability.
- How do I spend the majority of my spending cash?
- Have I ever fallen behind on my bills due to unnecessary shopping?
- Am I okay with buying less expensive brands in order to save money?