Most of the time, you may be motivated to save money but there are times when temptations come your way and before you know it, you have already spent the amount that was supposed to be use to pay off your debt!
Here are some helpful tips on how you can avoid temptations and use that extra money to pay off your debt so you can then spend cash on what you want.
1. Really try to avoid the places where you tend to spend money. Don’t even put yourself in the position where you have to test yourself. If you are fond of buying shoes even if you don’t really need them, try very hard to stay away from them. Keep yourself away from shoe stores so that you will not be tempted to buy one.
2. When going to grocery stores… Always bring the exact amount and bring with you a grocery list. If you have limited money in your pocket when in grocery stores, you will be forced to buy only those important things that you need.
This may sound crazy, but memorize the layout of your grocery store. If you know where to find everything, you will not have to walk down every isle and be tempted to buy items you did not come for. Believe it or not grocery store have their lay out a particular way to maximize profit.
3. Go to the malls only when needed. Do not go shopping if you do not need anything important to buy. Window-shopping will only tempt you to buy the dress you saw in the boutique even if you don’t really need it. Use the internet to purchase a lot of your items. Usually you will search for exactly what you need and then you are good.
4. Do not bring with you your credit cards all the time. Having a credit card in your pocket will only tempt you to buy things that are not necessary.
Use a debit card, but keep in mind that this is not a credit card and when you use it money is directly withdrawn from your account. You do not want to make that mistake… I have heard of this being done.
5. When you are in debt, use almost all of your extra money after the 10% you pay yourself to pay off debt. This is the best return on your investment and will keep you from ruining your savings.
6. You should also educate yourself on the fundamentals of money and debt. If you know more about how to save and how to manage your money, you will be prepared to handle any circumstance. A great benefit is that those that learn the fundamentals will be in the position to build wealth and really turn their lives around.
Everybody is tempted to spend money on services of products they don’t need. You have to really question why your spending the money. I suggest that you even set aside an account where you save up some money to spend on yourself and get it out of the system. Besides everybody needs to have fun.