(no subject)
Jul. 30th, 2011 10:51 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
alexseanchai posting in ![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png){kind=small}
actyourwageDead comm is dead. *pokes at it*
Hi, I'm Ellie, and I have problems with buying things on impulse. This may be related to my thousands of dollars in credit card debt. I have a full-time job which, after monthly expenses, gives me four hundred a month to pay down credit card debt with. Somehow the debt keeps not going down. Does anyone have suggestions for ways to convince myself I don't actually need any of the books and probably don't need any of the crafting supplies I buy?
Hi, I'm Ellie, and I have problems with buying things on impulse. This may be related to my thousands of dollars in credit card debt. I have a full-time job which, after monthly expenses, gives me four hundred a month to pay down credit card debt with. Somehow the debt keeps not going down. Does anyone have suggestions for ways to convince myself I don't actually need any of the books and probably don't need any of the crafting supplies I buy?
(no subject)
Date: 2011-07-31 07:45 am (UTC)My suggestions? First, stop spending. Take your credit card out of your wallet and put it somewhere safe. Personally, I keep mine in the freezer in a block of ice--if I really, really need it, it takes 24 hours to defrost (can't microwave it, it fries the card). I've never had anything urgent urgent that's come up that's needed more notice than that.
Secondly, give yourself some slack. You say you've got $400 spare. Maybe put $200 of that on the credit card (an automated transfer as soon as your pay comes in?), and then $125 in a high interest savings account where you can't access it immediately (I use ING, but whatever has no fees/high interest). I actually find the "1 business day" thing works well for me. I transfer money in there, then schedule it for transfer out two days before my bills have to be paid. That way I do pay things, but I don't spend the money on other stuff.
Use the remaining $75 for luxuries. But don't them impulse luxuries. What everyone else has said with the craft stuff is right--make sure you finish two before you buy another one. Make lists. Plan your next purchase--you'll get so much more enjoyment out of that!
(no subject)
Date: 2011-07-31 12:53 pm (UTC)Savings. I keep meaning to do savings. I've got an Ally account I should resurrect.
Thanks!
(no subject)
Date: 2011-07-31 12:59 pm (UTC)No savings is the reason I got into debt again. I got out of debt, and had to move suddenly. It went on the credit card, and then it took AAGES to figure out my budget living by myself and in the meantime, the debt crept up and up and up...
So now I'm starting to pay it down again. But I'm doing it in a 2/3 1/3 way. 1/3 towards savings, the rest towards the card. In the month I've been doing it, it's already had an effect--my previously maxed out card has $200 free and I have the month from HELL this month (really big unexpected bills) but I have enough savings to get through it.
(no subject)
Date: 2011-07-31 01:05 pm (UTC)