Always go back home and "sleep on it" before signing a contract to make a large purchase. This will keep you in control and not allow your emotions to carry you into a purchase that is not practical or wise.
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With your spouse or partner, make a pact that you will not spend more than $XX without consulting each other. This will prevent impulse spending, give yourself time to rethink a large purchase, and allow another point of view before dishing out a large sum. Your partner may also remind you that a large bill (car or life insurance, for example) is due that you had forgotten about. Together you can.... (click title for more info)
negotiate a reasonable amount based on your household income. For some couples, that might be $50, for others $500 or $5000. If you find it hard to compromise, each individual can write down the high & low amounts they find reasonable. Then compromise on a middle figure.
We are so accustomed to whipping out a card, debit or credit, that money flies through our hands without realizing where it went. Go to the bank. Take out cash that you have to spend. I bet you see it in a whole different light when it comes to spending it.
For larger purchases that must be made on a credit card, we must learn to realize that this is cash + interest. See what your interest is. I know it might seem dumb at first, but take that much cash in your hand & realize you might as well burn it. We have to comprehend what we're spending!
My bank offers a free service that allows me to choose the types of purchasesI pay in full each month; the bank separates them so they appear separately on my statement, & I pay before the due date & pay no interest on them.334
I pay off groceries, gas, utilities, personal items immediately. I pay off larger purchases over time. I stay below the 1/2 mark of my credit limit = better credit score!224 Tremendous help w budget tracking!244
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