We have all heard that “admitting you have a problem is the first step.” But even if you know you have a problem with spending, it can be difficult to stop. Before you start your “Hi, my name is…and I have a problem” monologue, try one or more of these sensible tips to keep you from spending too much this year.
Freeze Your Credit Cards
Swiping plastic is always easier than forking over cash at the counter. The best way to rid yourself of this habit is to stop carrying cards around with you. You can make credit and debit cards as inaccessible as possible by freezing them, literally. Fill a bowl halfway with water and let it freeze. Place your cards in the bowl of ice, add water, and freeze again.
Pay Your Bills Before You Go
If you are going out with friends, pay bills or balance your checkbook before you leave. Sometimes we forget about our financial state while enjoying time with friends, but getting this dose of reality before you leave could help motivate you to spend less.
Empty Your Pantry
Frequent trips to the grocery store make it easy to overspend on items you don’t need. Instead of shopping once a week, only shop when you’re out of food. It may take some extra preparation to plan meals around what is already in your pantry and refrigerator but this practice can significantly shrink your grocery bill.
Cancel Emails and Catalogs
Emails from retailers offering exclusive deals are designed to tempt you into browsing their website until you find a “must have.” Unsubscribe from email blasts from your favorite retailers and ask to be taken off their catalog mailing lists. The less information you receive, the better.
Do you use a creative method to keep yourself from frivolous spending? We want to hear about it! MBT Bank is committed to helping you and your family find financial peace. Stop by one of our five locations today!