Breaking The Addiction To Credit

Are you ready to get out of debt? Great! But, are you still using your credit cards, even while trying to pay them off? Boo! Here are some thoughts about breaking an addiction to credit -

Give Cash A Chance -

Instead of using your credit card for everyday purchases, use cash. Try the envelope system and see how you do.

For three years, I’ve been using the envelope system, and I’ve seen a dramatic change in my personal finances. I do use a debit card from time to time, but I still like the power of good old cash money.

Many will say – “I spend more when I have cash” – but that’s only because they allow themselves the fall back position of using credit cards. Imagine the following: If someone were to offer you a million dollars, and, all you had to do was live a month without using your credit card, could you do it? Of course you could! Well, I don’t have a million dollars to offer you, but I did just prove my point. We can do what we want to do, if and when we really want to do it.

Get Away From Negative Influences -

Is your life filled with people who love to spend money? Are you surrounded by people who spend more than they save? Are you listening to bad advice? Are you sick and tired of imitating the poor habits of others?

It’s time to move away from people who are infatuated with stuff and move towards people who are serious about saving money.

Whether we realize it or not, we are influenced by the company that we keep. Find people who are enthusiastic and supportive. Avoid situations where you feel pressured to spend money.

You are not what you drive. You are what drives you.

You are not where you live. You are what lives in you.

Imagine A Better Future -

Scenario One – You live paycheck-to-paycheck, always worried about how you are going to pay the next month’s bills.

Scenario Two – You have a savings cushion in the bank and you live your life, looking for opportunities to help others and bless your family.

Which scenario sounds better? Personally, I pick Scenario Two. While I’m not there yet, I’m doing everything that I know to do to improve my financial situation.

I had to break the cycle. For more than a decade, I lived under a cloud of debt. Now, I am debt free and I can plan for my future. I would encourage anyone, regardless of the amount of debt that they have, to break the addiction to credit. Live a more balanced, more focused life. Get rid of the extraneous things that you do not need and the people who drag you down. Focus on maximizing your income and reducing expenses. And, dream big dreams!

For those interested -

I have just recorded and released a new episode of the No Credit Needed Podcast and I am working on change number three over at 99 Changes.

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4 Responses to Breaking The Addiction To Credit

  1. Eric says:

    “You are not what you drive. You are what drives you.” … I love that quote – thanks alot!

  2. Moneymonk says:

    I believe #2 is most important

  3. mark says:

    Back in the early 1990s I was 12 grand in credit card debt. I worked my ass off working 2 jobs. Paid it off completely.

    I now use credit cards for everything including groceries, gas, fast food. Absolutely everything and I haven’t carried a balance in nearly 15 years. And I use a rewards card that gives us about $1500 dollars back per year.

    So it’s not the cards, it’s the balance.

  4. Tip three is awesome. Grab a hold of your dreams and let them motivate and energize you!