HIDE your credit cards! It can be really hard to cut down on using credit cards, especially if you're first starting out in a journey to stop using them altogether. If you need them for an emergency, you'll have them, but if they're out of sight, they're out of mind (and wallet).
Break the cycle of debt - this really is the best first step you can take towards financial stability! It's hard, but once you stop using credit, you can focus on paying off debt. I'm nearing the end of a six-year battle and I'm WINNING it - slowly and steadily.
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After I made the loan of $7500, I saw the Clark Howard Show. He said that 46% of the loans made to family or friends are NEVER paid back, vs 4% of loans made from banks and credit unions. Seven months later..I have gotten back $250, and that was 3 months ago.33
I just never thought this would happen to me. Hope this is a warning to others. Clark Howard said..best to consider money lent to friends and family a "gift".
Each pay day I take out a set amount of money for my groceries, gas, and free spending. My grocery money goes into one envelope, my gas money into another, and my free spending money into a third. Paying cash for everything has enabled me to save more money than ever before.
This system also enables me to live debt free since I am no longer making purchases on my credit card.
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