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Freeze your credit card?
Hi all, just wanted to start a thread with ideas of how to control credit card spending. While many of us are having trouble paying them off, the biggest hurdle is that we keep adding amounts to the debt!
This can be anything - no matter how crazy.
One (kinda crazy) tip I heard was to literally freeze your credit card. Yep, pop it in the freezer in a cup of water, so you'd have to thaw it out to use it. Apparently it doesn't damage it at all. What do people think of this? And what tips do you have?
This can be anything - no matter how crazy.
One (kinda crazy) tip I heard was to literally freeze your credit card. Yep, pop it in the freezer in a cup of water, so you'd have to thaw it out to use it. Apparently it doesn't damage it at all. What do people think of this? And what tips do you have?
Tags: cards, credit, savings, tips
Views: 14
Replies to This Discussion
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Permalink Reply by Warren on -
The problem with the freezing trick is that not only is it easy to thaw (a couple of minutes under hot water), but you can buy any number of ways without physically having your card, either online or over the phone.
The principal of it is sound though - to change your habits.
What about rewarding yourself for going x number of days without using your card?
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Permalink Reply by Spoiltgirl on -
I used to take it down to the shed in the back yard so I'd have to fight past the spider webs to get to it.
But yes there are ways to spend on it even when you don't physically have it (like Paypal).
I'm thinking hypnosis might be the answer..."I must not spend money I don't have...I must not spend money I don't have".....
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Permalink Reply by Kbot on -
Hey, I think that just worked on me ;)
"I must not spend money I don't have...I must not spend money I don't have".....
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Permalink Reply by Bandwidth on -
What my partner and i do is ask do I really need this item or do I simply want this item.
We have taught our children the difference between neads and wants. Most marketing tries to change wants to needs.
Also we look at our money and decide what is capital ie for investing in our future and what is income ie for spending. If we simply want something and we are spending income then fine if we are spending capital then no go
We started with allocating 10% of all we earned as capital and it has grown from there
Always remember the rich invest then spend the poor spend then invest
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Permalink Reply by Bandwidth on
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Another way to change the way we think is to remember that credit card interest is "rent" on the money we use.
No one likes paying rent
let me do some sums
If we look at the credit card interest as if it was rent on a house
$300,000.00 house @ 21% interest is $ 63000 a year or $1211 rent a week
even a 5000.00 credit card works out to be 20.00 a week and this is after tax money so we need to earn 30.00 a week to pay this rent.
Ladies think how many pairs of shoes this works out to per year
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Permalink Reply by Spoiltgirl on
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ohhhhh once you talk about it in terms of shoes it really hits home!!
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Permalink Reply by Zed Berlin on -
I've got to say, I've never understood the shoe thing, and most guys I've spoken to don't either. What is it about shoes that ropes females in - the more expensive and uncomfortable the better?
I'm not being facetious, I really want to know!!
A good calculation I like to do when buying clothes is to figure out how many times I think I will wear the item, and divide the price by that number to work out how much it costs per wear. It really starts to get frightening when you calculate how much an entire outfit costs per wear. Add shoes into the equation and it's costing you big $$$ just to walk out the door.
Zed
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Permalink Reply by Bytta on -
Zed,
honestly, as a woman, i dont even understand this craze about shoes. so, your journey is likely to be hopeless.
i'm not a shoe maniac mostly to the fact that most of women shoes sold in this country are either too expensive or too uncomfortable or both.
i only buy shoes when i go back to indonesia or malaysia.
Ladies, these places are shoe heavens. You can buy hot heels for less than 25 bucks and they are comfy.
ooppss... sorry, i think i've been naughty here ;p
but then again if you can save on your shoes purchases, you'll be rich in no time :D
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Permalink Reply by Miffy on -
Ah hah, the truth is revealed Bytta - you have a shoe fetish as well!!! You're just a bargain hunter! Don't worry, I do too. Can't really explain it Zed - it just is. I analyse so much of myself and my life, that I have to allow some things to slide by. Like shoes.
Miffy
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Permalink Reply by Zed Berlin on
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Hy Bytta, I suspected as much (sigh) - one of those things that will always remain a mystery.
An enigma - is that the word?
Zed
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