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Avoiding Impulse Buying

Most of the people who find themselves trapped by big debts have problems with impulsive spending. They claim that they need to pay back their debts but keep finding reasons to spend. Take back control of your money and your debt by eliminating excessive purchases.

Avoiding the Extras

Credit card debt is one of the worst kinds of debt to have. A credit card acts as floating money. You can charge a purchase to your card and you won’t have to pay for it until at least a month later.

The problem is that most people don’t make that payment and so they rack up charge after charge rather quickly. Before they know it, what was a $25 charge has now grown to $125. That’s how people become bur-ied by credit card debt.
A good rule to follow when you’re trying to pay back debt is to avoid any extra and unnecessary purchases at all costs. In order to pay down your debt, you’ll have to start racking up charges to your credit card on unnec-essary purchases. See if you can eliminate any of the following.

Stop Eating Out

Food is one of those necessary evils that people can always justify. Stop eating out, especially at expensive restaurants. If the amount of debt you have is larger than how much money you earn in a month, you shouldn’t be eating out and charging it to a credit card.

Stop Buying Clothes

Both men and women have issues with shopping for clothes. Before you justify buying a new pair of shoes or a new dress, you need to pay off your big credit card charges. You’ll only increase your credit card balance the more that you insist on buying clothes.

Don’t Give Lavish Gifts

As much as you want to show your friends and family that you care, it’s time to stop buying fancy and pricey gifts. Try making a gift the next time you need to give one. Or simply learn how to scale back on where you buy gifts or how many you give.

Get a New Crowd

If you feel pressured to spend a lot of money by your friends, it might be time to find a more supportive and more down to earth crowd. Hang out with people who won’t make you feel like you have to spend a lot of money to have a good time.