A credit card is a good financial tool that enables you to smooth your spending and maintain proper liquidity (in need of urgent cash). Plus, certain cards even offer cash backs and other types of rewards. However, credit cards only a good tool if you pay it on time or do not incur much interest. Once you start incurring interest than the credit card company will own you....
So the point is to not overspend and spend wisely. How can we do this? The best way is to be financially savvy and to budget and ensure not to overspend. I use Mint.com to keep my spending in check and always try to not spend money. Also, once you realize that you don't need much money to be happy, you will be able to control your spending.
However, such mind control may be difficulty. In such case, here are some helpful tips that are better than freezing your credit card.
1. Stay away from temptation. If you tend to spend a lot online then try to stay away form the computer as much as you can. If you buy a lot on mobile then don't enable mobile payments. Also, try to stay at home as much as possible, trust me you will use less money automatically.
2. Keep yourself busy. If you are busy then you will have less time to spend money. Try to get a new hobby that doesn't cost much. Spend more time with your family. This will all save you from spending excessively.
3. Find out what makes you spend. People do not realize this but we consume excessively, in a vein attempt to fill in something that is missing. Try to find out what is missing what makes you go on shopping sprees. May be you had certain trauma of being behind the fashion, in such case, address the cause and you will likely to spend less.
We live in a capitalistic society and credit cards are not going to go away. Thus, be wise and spend wisely ^^
*From Floating Forests
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