How to fight the impulse to get into debt
It is extremely easy these days to qualify for some kind of "credit" account or credit card. Fighting the impulse to get into debt has become much harder than it used to be. So if you're one of the ones that feels like they are on a downward spiral of accumulating more debt than you need to here are some tips on how to fight the impulse to get into debt and some helpful tips to staying out of debt.
Tip #1: Always make a shopping list
It may seem like a simple way to avoid debt, but making a shopping list before you get to the store can really help you stay on track and out of debt. Usually when you make a shopping list you make it within your budget. So although it's not a fail safe way of staying out of debt it can help remind you of what you can and cannot afford.
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Tip #2: Be aware of your buying environment
There are several stores that make a huge profit off of buyers that can't fight impulse to buy and get into debt. They will deliberately arrange their products according to consumer buying behavior that can trigger the impulse to buy. If you are aware of how the stores arrange their best buying environment for the consumer you can help avoid impulsive buying thus decreasing your chances of accumulating more debt.
Tip #3: Remember the 30-day rule
If you don't know what the 30-day rule is then let me explain it simply. If you feel the urge to splurge, stop. Go home and wait 30 days. Remember how much it costs and where you found it. If you still think you need it or can't live without it after 30 days then go back to the store with cash and buy it.
Tip #4: Don't shop during emotional ups and downs
It's been statistically proven that individuals spend more money when they shop on emotional highs and lows. Some people get the impulse to get into debt when they are depressed, while others feel the impulse to get into debt when they are on emotional highs. Do your shopping when you're having a fairly "normal" day. Of course you will have to determine what "normal" is to you.
How to stay out of debt
Once you have figured out how to avoid the places, feelings, and items that tend to give you the impulse to get into debt you can then start focusing on how to stay out of debt. Here are some helpful tips to get you started:
Tip #1: Get rid of your credit cards
Since qualifying for credit today is extremely easy, fight the urge by cutting up the cards you already have, discard any that come in the mail (even if they say you're already pre-qualified), and say no to store clerks that offer one to you. Credit cards have one of the highest interest rates out there and count on you not being able to pay it off. That's how they make their money. It is the same when you sign up for "in-store" credit.
Tip #2: Use cash
One of the easiest ways to stay out of debt is to use cash. Debit cards can work in the same way as cash if you're uncomfortable with a wallet full of money. Using cash will help keep you on a fixed budget because you only spend what you have; no more, no less.
Tip #3: Spend less than you make
Sounds pretty simple right, but for some people it's not. Spending less than you make could mean buying things on the "clearance" rack, shopping during sale times only, or buying used items. Don't let the media convince you that you ever have to pay full price for anything; it's just not true.
If you can learn how to fight the impulse to get into debt you are going to be much happier in the long run, and you might even learn how to save all that money you end up saving. You can do it.
