According to some sources, credit card debt is the bane of modern American consumers. If you believe in the media, Americans are flooding high-interest unsecured debt. It consumes a large part of our monthly income and profits from the establishment of long-term savings.
In addition, this excess of debt has spawned several cottage industries: wealthy fast fraudsters buy millions of dollars of old debt to exchange for the US dollar, and then they turn to collect consumer debt; debt consolidation offers Providers provide loans to help consumers transfer debt from one place to another, but only realize that it has not diminished at all; bankruptcy lawyers who prove their astronomical rates are legalized by the new bankruptcy laws.
Debt is a big business, it makes a very small number of very rich people. We other people must figure out how to deal with our debt problem. I began to think of ways to start dealing with my own credit card problem; that is, I tried to use them less.
This is not a breakthrough thing, so don't expect a silver bullet or some quick plan to immediately eliminate your debt. No, my solution is simple. Some people call it old school.
1. I have hidden my credit card. It's not that I can't find them, but I put them outside of my sight. If I see them every day, I will be more willing to use them.
2. I withdraw cash from ATM several times a week. I only have enough time to pay my expenses for a few days. If I run out of cash, I won't use a debit card, and I certainly won't use my credit card.
3. I note every dollar I spend. This helps me keep the budget, but at the end of this month, I will also check my consumption patterns and find where I can cut. If I see myself spending too much in any area, I have found a way to reduce this expenditure.
So these three steps can help me curb spending and avoid accumulating more debt. I find that most other methods are just a Band-Aid, and the real debt reform comes from changing habits.
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Orignal From: Cash lets you get out of debt
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