Confessions of a Shopaholic

Thursday, August 29, 2013

In these days with shopping deals, coupons, and credit cards, how can one overcome the addiction to shopping? Temptation is all over the stores. From buy one get one frees to spend $___ and get free shipping. Especially if you're a college student or someone who just graduated, credit card companies are headed your way. Telling you that you won't get any interest charges for X amount of months and giving you cash back on your purchase. There are many different ways that they are trying to lure you in but you have to decide whether that's a good investment for you.

Speaking from personal experience, credit card debt is no fun. You get your pay check and have to spend it mostly on the upcoming months bills. If you have more than 1 credit card, that's even more money your dishing out to pay someone back rather than saving or using it on yourself. How can you avoid falling into the trap of spending your money and taking out credit cards? Here are some helpful tips.

  •  Do you really need it?

Ask yourself, Do I really need this right now? If the answer is NO, put it back. Don't waste your money on something right now that can be used for something more important. Chances are, whatever you want will be on sale at a later time or even have coupons in the mail.

  • Are you financially secure
If you take out a credit card, are you able to keep up with monthly and full balance payments? If the answer is NO, do not open a new card. Nothing is worse than trying to buy things with money that you don't have now and don't have later. Wait until you're able to afford paying back whatever money you check out. 

  • Don't fall for spend $__ and get $___ off
When you have deals that are spend $30 get $10 off, they seem like a good idea but it's the investors way of getting you to spend more money. Especially if you were going to the store to buy one thing that costs $5. Stores will get you to spend more money just to get $5 or $10 off. 

  • Open a savings account
Chances are, when you put money into your savings account, you're most likely not going to spend it. Have your bank set it up so that a certain amount of money gets transferred to your savings once or twice a month. This will help you to save your money instead of spend it. 

I wish I had someone to teach me about saving money and credit cards, then I wouldn't be in the position I am now. With these helpful tips, I'm going to work on saving money and hopefully you can to! What other tips do you have for saving money and not falling into credit card traps? Leave a comment down below!

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