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I went to a debt counseling company. Which is different from a debt consolidation company.
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cut up the credit cards. if you can't pay for it with cash...you probably don't need it. take that "extra" cash that you are paying out in interest and put it into a savings account. save those "credit purchases" for BIG things..like a house or car or something.
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My suggestion is that you give in to your compulsion to spend, however, you manage that compulsion by buying something that is geared towards saving.
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My suggestion is that you give in to your compulsion to spend, however, you manage that compulsion by buying something that is geared towards saving.
Face it. You like to buy things. Things have a lot of psychological ramifications. They can make you feel valuable as a person. Some people surround themselves with things to justify to themselves that they have value, or to justify working in a job they hate. There are tons of reasons but whatever your reason, you have at least one.
Now take that same reason, but, buy things like a bank account or a bond, or a Guaranteed Investment Certificate at your local bank. Instead of thinking of it as saving, think of it as buying things.
It might satisfy your craving to buy things, if you transition the thought that through specific savings/investment vehicles, that you are buying a stronger sense of security.
Buying a sense of security can become quite addictive so be careful to balance. It's easier to set up a budget so you can specifically see what goes towards essentials and what is left over. Fix an amount that goes towards buying the security and how much goes to stuff that is fun to have.
Once a bit of a pile gets formed on the security side; you might start to enjoy the fun of how more becomes more faster. It's easy to end up going compulsive on the other side now and for some people that may be OK but money is to spend. You just need to figure out how to use it more as a tool than a hemmorage
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All you need is one red paperclip. Everyone knows that! :)
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All you need is one red paperclip. Everyone knows that! :)
http://en.wikipedia.org/wiki/One_red_paperclip
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Round your money (ie your pay cheque) down to the nearest $10.... and then withdraw it all. (Leaving the $10 in the bank)... that way, you know exactly how much money you have... and when it's gone.... well... its gone. If you can leave the $10 there each pay cheque, very quickly you will be saving quite a tidy sum... :)
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Avoid situations and temptations. Don;'t browse the malls unless you leave your credit card at home. Before a purchase ask yourself if it is something you want or something you love?
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Avoid situations and temptations. Don;'t browse the malls unless you leave your credit card at home. Before a purchase ask yourself if it is something you want or something you love?
Be honest with your friends and say "I can;t afford that at the moment" No shame there. It is a temporary situation and when you get that debt down you will be so pleased with yourself.
If you have been generous in the past it will be very difficult and your friends will have expectations of you based on the past. If they start pressuring you to spend money, ask for their advice on controlling your money instead. Good Luck.
(PS I have horribly overspent this last month so I will be taking my own advice!!)
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What do you mean by "besides the obvious"? Is this like an alcoholic saying "What can I do to arrest my alcoholism . . . besides stop drinking?"
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Confucius say "Never spend future money".
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