Author Topic: I over spend whenever i go out with my credit card! any way out  (Read 1979 times)

lifewithoutdebt

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I discovered fews months ago that whenever I go out with my credit card I mostly return home with debt, Can someone help me on method to use without overspending when I check out with friends. please if you have similar experience, share with me how you overcome it.
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Debt Support Trust

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #1 on: May 25, 2011, 10:29:23 AM »
hi lifewithoutdebt,
 
Firstly if you seem to be having this problem every time you go to shops with friends then you need to consider taking card out of wallet/purse and cutting it up. This way you will not accrue any more debt. Why don't you save and when you are out shopping then pay it with your debit card and your friends will not be any the wiser.
 
Have you looked at doing a Statement of Affair (income & expenditure), total up all income from salary to child benefit and tax credits (if you have children). Then you look at your expenditure like mortgage/rent, council tax, electric and gas, food, fuel, tax, insurances etc, once you do this you will have a disposable income, the next thing to realise does this disposable income cover your monthly contractual obligations. If this covers your debt then you need to look at your budgeting to see if you can cut down on certain things. If this disposable income does not cover your debt then you should look at having some debt advice to see what is best option for you.
 
 
Andy
Qualified Debt Adviser
www.debtsupporttrust.org.uk

James Falla

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #2 on: May 25, 2011, 04:45:54 PM »
I totally agree with Andy. The answer to this problem is to cut up your credit card. Pay off the outstanding balance and then cancel the account.
 
If you are struggling to manage your finances then you need to review your financial situation and understand where you can cut back on your expenditures or make savings.
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michelle2011

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #3 on: May 25, 2011, 06:15:25 PM »
I agree too. You should always leave the cards at home. I would concider putting them in a safety deposit box if you have one :)

shocksoc335

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #4 on: May 26, 2011, 07:58:39 AM »
temptation temptation temptation - yes cut those cards up :D
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James Falla

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #5 on: May 26, 2011, 04:40:32 PM »
Another thought on this. Not only should you cut up your card but as soon as you pay off the balance, you should call the card provider and cancel the account (you won't be able to do this until the balace is cleared). This will prevent them from sending you a new card when the old one expires and submitting you to temptation once again......
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kingston3d

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #6 on: Jun 13, 2011, 09:04:24 PM »
Temptation is always there! :-\

Gary

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #7 on: Jun 17, 2011, 10:32:02 PM »
Cut up all of your cards but one, Keep this card for emergency use only,  make  this card hard to access to reduce impulse spending, take your card place in a water proof container fill with water and put it in the freezer, it will be there if you have to use it but not to easy to get at and by the time it defrosts hopefuly the urge will have passed

James Falla

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Re: I over spend whenever i go out with my credit card! any way out
« Reply #8 on: Jun 23, 2011, 11:42:15 AM »
That is an interesting idea Gary and one I have not heard  :) . However I still fell that if you are serious about not getting into debt, you should get serious about it. This means not having any credit cards. If you feel you need something for emergencies, then save a little and put it aside.....
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