Americans love their credit cards—according to an annual report from Experian, the average American has over $6,300 worth of debt on their credit cards. This number is a whopping 3% higher than last year’s figure, and requests for debt counseling have spiked as men and women struggle to pay down their balances.
If you have been struggling with using credit cards responsibly, impulsive spending may be the cause. Some strategies that you can use to reduce your urge to spend include…
- Taking a 30-day vacation from spending. Take a pledge to avoid purchasing anything unnecessary for 30 days. If you’ve been fighting the urge to splurge, tell yourself that you can purchase it if you still want it a month later. Many shoppers find that their impulses have faded by the time the 30th day rolls around.
- Addressing the emotions that make you want to spend. Some people use shopping as a coping mechanism to deal with uncomfortable emotions. If you feel the need to rush to the mall after a fight with your coworker or a bad grade, consider trying a free alternative—journaling and jogging are two popular choices.
- Removing your credit card data from online sites. Let’s face it—when spending is easy, we spend more often. Remove your autofill data from retail sites to help fight the urge to click “add to cart.”
- Making lists before shopping. Mega-stores like Walmart and Target make impulse purchases almost unavoidable. Before you head out for a shopping trip, make a list of everything you absolutely need…and stick to it!
- Creating a vision of the future. If you could snap your fingers and pay down your credit card debt, what would you begin to save for? Whether it’s a down payment on your first home, a new car to replace that old clunker, or books to help you go back to school and further your education, create a vision board to help motivate you to avoid frivolous spending.
Are you drowning in debt? Debt counseling in Philadelphia from Quality Credit Repair can help you move forward with your life. Give us a call today at 888-399-3898 to get started!