How to use being “CHEAP” to save you from Credit Card Debt!
Written By: Nick Nguyen | Read full profile
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There’s only 1 time where I condone being cheap...and by cheap, I mean clipping every single coupon and doing the math to see which store will get me the greatest discount, etc. - credit card spending.
I have a bad habit of impulse buying whenever I go out, so now, I only carry 1-2 cards with me to pay for specific things like gas and food. Not having my credit card that has the extra 5-15% bonus coupon and only getting 1% cashback on my purchase makes me think twice about swiping. I’m using reverse psychology on myself, saying “oh I’ll come back and buy it later if I need it…” but 9/10 times, I never come back to get it because I either forget or am just too tired to go back. That’s another penny saved in my book!
Remember, spending money is not saving money! Even if you save $50 dollars on a $100 purchase, you’re still going to be out $50! Instead, find ways to use that $50 to make you another $50. Then if you ever wanted to buy that thing at the full price of $100, you wouldn’t feel as bad! For me, this is the one time where being super cheap with discounts, promos, coupons, etc. is actually beneficial in preventing me from impulse buying with my credit cards!
*Disclaimer: Sure, I may spend a bit more time upfront thinking about being cheap and saving every last penny, but I’ve developed a system of the years to streamline the process. I know which products typically have coupons, the best price paid, and when things will typically go on sale (thank you 10 years of reading weekly ads and aimlessly window shopping). So now, it only takes me about 5-10 minutes to check the credit cards and couponing sites that I know typically advertise the deal, and boom! I’ve decided not to make the purchase cause the credit cards and coupons weren't in my wallet.
**Nguyening Lifestyles is not a financial service professional and is not liable for any decisions you make regarding credit cards or managing your debt. We are simply here to entertain and provide content for educational purposes only. Therefore, we are not liable in any capacity for any actions that may result from reading this post. Proceed with using any type of credit card, credit line, debt, credit reporting company, etc. with caution.
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