Today I want to talk “over spending” of your hard earned money.
I was reading an article about how people who buy things with their credit cards. They tend to spend more than if paying with a check or cash.
I asked myself the question, was I guilty of this, too?
The answer is yes.
I don’t want to use my debit card or credit card on a $2 purchase, so I buy more than I need, so I spend $10 on some things I don’t need instead of just spending the $2 dollars.
If a person does this enough of the time then we are getting ourselves in a very bad habit.
Then, if you don’t or can’t pay off your credit cards every month you pay interest.
The longer we do this the worse off we get.
If we would look back at all the times we spent more than we needed, and then added up all the extras, we would see that we probably wouldn’t owe anything on our card at all.
$8 doesn’t seem like much, but over a year’s time and doing this every week, it adds up to $416. That’s a good chunk of money.
Just what would you do with that money? That’s up to you.
So here’s my advice, always have some cash on hand. You can use it for the little purchases. Keep your debit or credit cards for the big ticket items.
Remember to always pay off your credit card bills every month.
If using the debit card make sure to keep a good record of where and when you use it.
