Ok, so for the past 2 months we've been spending like there's no tomorrow, and in about 1 week from now the postman will be dropping something in our mailbox. BILLS.
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No matter how much we hear (even from me) 'don't spend more than what you have' ahh, really? Who really listens anyway?! So let's face it, most of us did spend more than what we have in our bank and we don't have the funds to pay off our debt. So now what?
1. DON'T ADD TO YOUR DEBT. Easier said then done, I get it. However, you just can't keep spending so be strong. Take control of your finances and prove to yourself you can do this.
2. STOP LOOK AND LISTEN. STOP, do you really really need that great pair of shoes? You really don't. I know they will look great on you but seriously, who really is looking? I think I need new clothes weekly, for an event, or whatever! I can find an excuse to buy something new everyday. So stop it!
LOOK at what you already have in your closet or attic. I do this a lot. Sometimes if I find a blouse that I haven't worn for awhile I put it on with a newer skirt or pants and viola! It feels new (ok, somewhat new)
LISTEN to that really annoying voice in your head that is telling you to just walk away. When I'm at TJ Maxx, Marshall's, Target or Home Goods (my 4 budget busters) I find soooo many things I need. I will literally put whatever I like in my cart and walk around...I start thinking about college savings, my children and how my spending might hurt them and suddenly that stupid voice in my head speaks loud and clear...(I think it's probably more Mommy Guilt) but WHATEVER! I do listen to it, sometimes I have literally left the full cart in the aisle and walked out...and believe me, that feeling when I get into my car empty handed...is EMPOWERING. I DID IT!
3. PRIORITIZE. If you have a few credit cards pay more than the minimum on the card with the highest interest rate, get that card balance down first. But don't ignore the others, pay at least the minimum.
4. CONSOLIDATE. If you can, apply for a low interest or no interest credit card that is offering a great deal on balance transfers. But beware, oftentimes these have expiration dates that can suddenly bump those rates up more than 19-25% on new purchases. Use that credit card ONLY TO PAY OFF THE DEBT DO NOT USE FOR NEW PURCHASES! EVER!
5. KEEP CHECKING BACK. When you check on those credit cards as you pay them down you will feel good. You will see that your balances are going down and you will see the effects of your willpower.
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