Have you hit your target for your Christmas Budget yet? Starting in September, I outlined how you can get ready for financing your Christmas Holidays. I covered budgeting and saving up. Then for Octobers Relax Mommy Money Challenge we covered how to do a garage sale for added budget.
This months Money Challenge is not about saving up nor adding income. This month, it’s all about having a healthy relationship with your credit card. And how do we have a healthy relationship with it? Put it away. Yes, put it away! For this Christmas, avoid using your credit cards to buy gifts, or splurge on food.
Now I know avoiding to use your credit card is easier said than done. You will be tempted to use Options for financing your holidays with your credit card, but this is a very, very bad move as it will likely put you in debt. If you are using your credit card, it is because you do not have the money to buy the things you want to buy. This will obviously put you in debt but at the spur of the moment, you may not think about that.
Now, I wont suggest that you close them or even shred them. I find credit cards to be very useful in times of emergency and convenience. But aside from that, nothing else.
Here are a few steps to avoid using your credit card:
- Be conscious of what you should use your credit card for. Tell yourself that you’re not using it to accumulate debt.
- Remove it from your wallet and leave it at home.
- Remind yourself that self control pays when you’re tempted to put it back in your wallet.
- Reward yourself. Compute the interest rate that you’ll probably pay for an expensive purse or bag and pat yourself in the back when you succeed avoiding using your card. Buy yourself something inexpensive. You deserve it!
Got more ideas? What do you do to avoid using your credit card? Share with other mommies below!