How Can I Stop Using My Credit Card?

by Michelle
(Derby)

Help! No matter how hard I budget, I always end up using my credit card at the end of month. What tips do you have to stop using it?

Answer:

One the easiest ways to take control of your credit card spending is to manage your spending with a budget.

You need to carefully work out how much you need to live and how much spending money you're going to allow yourself and then stick to it. You can do this by working out your budget.

If you're paying for things to live, such as paying bills or food shopping on your credit card because you have no money in your current account, then you need to think about how you can increase your income. You may be entitled to benefits or tax credits, so check with your local Citizen's Advice Bureau.

If you're spending on the credit card because you simply want io treat yourself and so you're buying on impulse, then you need to use some self discipline to stop your spending.

When you set up your monthly budget, give yourself a set amount to 'treat' yourself and use this for those impulse buys. Just make sure you stick to the amount you set yourself!

If your credit card spending is still a problem, cancel your credit card and use cash to pay for things instead. If you're only using cash, you can't overspend!

Learn more about cash budgeting here.

I hope that helps!

The Budgeting Steps Team