MV MAGAZINE

5 ways to stop the bad effects of credit card

Credit card if not used wisely could be a boomerang for yourself. On the one hand, this thing is pretty handy, especially if you're overseas. But on the other hand, if tempted to use it for your impulsive spending habits, it is not possible you actually get into debt.

If you are currently trying to escape from the shackles of credit card, here are five ways you can try to stop using these payment instrument, as quoted from About:

1. Close your Credit Card
The first thing you can do if you do not have much debt on the credit card. The first is a very effective way of making you no longer use credit cards. Intention and determination, that is what most needed to perform this first act.

2. Leave Credit Cards at Home
If you do not or have not been able to close a credit card, try to leave it at home. Especially if you will go to the mall, you should just put the credit cards in the closet in your room. This makes you 'forced' to spend cash when shopping.

3. Save Credit Cards on your Hard Places to Reach
You remember how the story of Rebecca Bloomwood in Confessions of a Shopaholic store credit card in the freezer? The card is made into ice by Rebecca that it took more effort so that he can use that card when needed.

If it's your spending habits with credit cards has been very difficult to stop, you can try to Rebecca. If you do not want to be too extreme, you could put it under a pile of clothes. In essence, keep the credit card is far from your reach.

4. Shock Therapy
Have you ever calculated how much interest you pay each month if you do not pay off credit card bills each month? If you have not, try doing because this could be a sort of shock therapy for you. When viewing the figure actually paid by you to the credit card, you may be very sorry and will think twice about using it again.

5. Self Control
The fifth way is indeed not as extreme way 1-4. But it could be just the fifth thing is that indeed you should apply early if they want to stop the habit of shopping with credit cards.

Try self-discipline and control your credit card when temptation comes. Remember how much interest you pay if you do not pay the bill. If you manage to resist temptation, it never hurts to reward yourself.