Uggh...why can't I stop???
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Uggh...why can't I stop???
| Fri, 10-21-2005 - 12:00pm |
After paying off more than 20k in CC debt, you'd think I'd have learned my lesson, right? I only have one credit card now. It seems like as soon as I pay if off, I go charging stuff again. Stupid stuff too. Mostly clothes, but I also bought a couch. I won't even get the couch until the end of November so I'll probably pay interest on something I don't even physically have. :(
I'm just so mad at myself. My balance is up to $2700 again. I will be making an online payment Monday and paying it off AGAIN. So, after that, what can I do to ensure that I don't use it? I want to keep it for emergencies only. My limit is 14K, maybe I should get that lowered?? I don't know. I need some advice...
TIA

I don't think that lowering your limit will alleviate the problem. If you lower the limit to $500, you may be tempted to charge up $500. Maybe the best defense is to not even carry the card on you. Keep it in a safe deposit box, at a friend's house or anywhere else that would require a little effort to get to. That way, you will most likely think twice before using it.
Good luck!
Windy
Can you leave it at home? I realize this won't work if you've memorized your account number, but it's worth a try. :-D
Also, tell yourself that you cannot put any purchases on the card unless you immediately transfer money from your checking account to cover it. We've started doing this, and it works very well. When I make an online purchase with my credit card (safer than using a debit card, I hear), I then transfer money from my checking account to my credit card account in the exact amount. :-D
Pat
Winnie,
Perhaps you want to try freezing the credit card in a metal can. The reason is it would take longer to defrost. You won't be able to place the metal can in the microwave.
Good luck. I know it's frustrating.
MYM
What a great idea about using the metal can! That is such a great idea! Right now, my cards are sitting in a dresser drawer, but I think I might just do this. I've got a can of folders that is almost empty, so when I finish that, I'll plop my cards in there and freeze 'em up. :-D
Pat :-D
Just a thought, but since you don't have the couch yet, why don't you contact the company and tell them you want to return it for a refund???? Then tell yourself no new purchases until you are debt free and can pay cash. I have found that back when we used to charge stuff, I never really enjoyed it fully when i knew it wasn't paid for, and when i said i would pay it off in a few months it never happened that way. It has taken me awhile but now i could never even imagine buying anything like a couch or really even clothes on credit- not that i'm really making ends meet very well since i became a sahm- and i don't have a choice about luxury purchases now..... but when i was working full time and we were in debt then too, i felt entitled to things that i couldn't afford but told myself i could (my head was in the sand, that's why i was still in debt instead of using that four years of making good money to get out) You have to want to get out of debt so bad you can taste it. Try reading the book (they should have it at the library) Total money makeover, and another called financial peace, both by dave ramsey.... they will make you get a taste of what that freedom from debt could feel like, and give you excellent plans to go about doing it. I wish that I had things i could cut out anymore, we are still struggling and the only thing i buy that isn't a fixed expense is groceries. If only i had a shopping habit i could curb and then our ends would meet easily.
Good luck
Shannon
If you can't stop, you should cut it up. If you need it for emergencies, give it to someone else to hold, or you can do the old freeze it in a block of ice trick...
I've paid off my cards a couple of times now and gone right back to charging them up. I was kidding myself each time I thought I could become debt free but continue to charge as long as I paid the balance off each month. Eventually a month comes when you just can't pay it off in full.
I think the only way for me to break the cycle is going to be to build my emergency fund and keep part of it in traveler's checks in my wallet where I would normally carry my card. For example, if I thought $500 worth of open credit would give me peace of mind, I should instead accumulate $500 worth of traveler's checks.
BK