One of the biggest mistakes people make that gets them into credit trouble is spending too much money. It is not hard to do and many people simply refuse to curb their spending habits, but letting your spending get out of control can cause a lot of trouble and ruin your credit.
We are surrounded with advertisements that tell us to buy, buy, buy. When we want to read a book, we buy it. When we want to go somewhere, we take a cab or drive rather than walking.
Stopping spending consciously can be hard, but heading to your local library, walking instead of taking a car, buying a used computer instead of a new one - all can help you spend less and save more. There are several ways you can save money and pay off your debts faster by spending less:
1) When you head out, carry a small amount of cash with you and leave your credit cards at home. That way, you will not be able to overspend.
2) Stop catalogs from arriving at your house or discard them unread - advertisements and catalogues encourage you to spend and buy when you don't need to.
3) Do it yourself. Eat in rather than dining out. Dining at restaurants or getting food delivered is always more expensive than doing your own cooking. Also, do your own taxes rather than farming the job out to someone else. Wash your own car, run your own errands, mow your own lawn. When you do something yourself, you spend less.
4) Watch less television. It sounds strange, but television can make you overspend - television contains many professionally-created advertisements pushing us to spend and spend. These ads are so well done that not spending after watching them is sometimes very difficult (just what advertisers want!). Switching off your television can help you avoid temptation.
5) Make do or do without. While you are repairing your credit, channel all your extra money into paying off debts and reestablishing good credit. Make so with what you have and avoid shopping as much as possible.
6) Buy discount or used. Whether it is furniture or shoes, you can save money by refusing to pay retail price.
Saving your money by spending less can let you pay off your debts faster, something that can improve your credit score dramatically.
By Joseph Then
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