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Take This Step Toward Getting Out of Debt Today

Do Today: Take This First Step Toward Getting Out of Debt

Stop using your credit card. Sure, it's easier said than done, but it's also exponentially easier to charge more to your credit card than it is to pay it off. It's tempting to put larger purchases like plane tickets on your credit card because you don't want to see those big amounts deducted from your bank account.

You're paying for those purchases no matter what method you use, and they will only end up costing you more when interest is added to those credit card balances. Bottom line: it’s difficult to rid yourself of credit card debt when you're still adding charges here and there, so embrace restraint when reaching into your wallet for that high-limit card of yours.


Join The Conversation
hmcmcd hmcmcd 9 years
I just put the credit cards down about 1 month ago and it has been torture. I do feel better about my spending, but I had to turn down so much fun stuff that it made it has made this past month really hard.
bigestivediscuit bigestivediscuit 9 years
I never use my credit cards. I have stopped using my debit card as well and started taking out a lump sum of cash on a certain day of the week to last me until the next week - it has worked miracles for my bank account and I hardly ever stress about money anymore. It just got to the point where my debit card was too easy to swipe. But when I can actually see in my wallet how much I've used up or how much I've got left, I make less unnecessary purchases.
carhornsinapril carhornsinapril 9 years
i did stop using my cards, and i recently paid-off the last of my credit card debt! woohoo! now, a mere $50k in student loans left. AWESOME.
Cassandra57 Cassandra57 9 years
phatE: Good point, to raise the issue of what we usually use our cards for. I *very* rarely use mine for shopping whims. And rarely for the purpose of borrowing, more often it's for convenience. Usually transactions are: online purchases, most often books or Sephora (they take Penney's card now!), and a couple of political and charitable donations this year hotel reservations (rare these days, with busy schedules and spiking cost of living) event and concert tickets (also rare these days, not much spare cash)
aimeeb aimeeb 9 years
Thsnk God I have zero debt...
phatE phatE 9 years
lainetm - thanks! great ideas! and to the person who said " i don't understand why people use credit cards, i just use my debit" debit cards = what you currently have, credit cards = borrowing. in my case, my car went schitzo and i didn't have a sufficient enough emergency fund. you gotta do what you gotta do.. i needed my car, so i put it on my credit card. am i in debt? yes. will i pay it off? yes. it's life, life happens, just make sure you take care of it.
Cassandra57 Cassandra57 9 years
I accumulated a couple of balances and am working on paying them down. I don't use them much, mostly for online transactions. Some tricks I use: (1) I don't carry cards in my regular wallet. However, I do carry them in a small "back-up" card case, where I keep lesser-used items like library card, store loyalty cards I rarely use, etc. (2) I am paid twice per month, so I make payments on my cards with each paycheck. I aim to pay the monthly minimum (at least) each time. (3) I make payments online and schedule it (preferably in advance) for the day after payday, so it's covered before I have time to spend it elsewhere. (4) I have a small ING savings account for "emergencies" and special pre-planned purchases. The interest rate is okay for a small account, and I can schedule regular recurring deposits online. It takes 3 days or so to transfer the money back into my checking account, so it's safe from passing whims! Hope something here helps someone!
emalove emalove 9 years
I stopped using (and shred!) my high-interest cards awhile ago, so I wouldn't even be tempted to bust them out.
brielleblonde brielleblonde 9 years
i never understood why people used credit cards. i just use my debit card for everything...
sfbutterfly24 sfbutterfly24 9 years
I took my credit card out of my wallet a couple of months ago. I hate it at the moment I think I need it but I love it later in the day. Right now it lives in my bathroom until I have to buy my airplane tickets for my December Euro trip!
Smart-Living Smart-Living 9 years
Great job to all of you ladies who have broken the habit! It's tough at first, but there's a great sense of satisfaction from seeing your balance go down instead of up.
Liss1 Liss1 9 years
:oops: Now not no!
Liss1 Liss1 9 years
I stopped using mine about a year and a half ago. No i am just trying to pay them off. Slowly but surely :) I only use my debit card now so if i don't have the money i don't buy it. Well except for the house we bought last month but that doesn't count :)
LesleyP825 LesleyP825 9 years
Stopped using mine a few months ago. It was a tough habit to break but I did it. It really makes you think twice about all those impulse buys.
ilanac13 ilanac13 9 years
i am proud to say that i stopped using credit cards months and months ago...and slowly i'm paying off all the balances. the only 'credit' card that i use is my amex cause it has to be paid at the end of the month, and i have to have the $$ to pay it. otherwise i'm always using my debit card cause i hate to pay out more than i've spent...gotta love those interest fees.
faerymagick15 faerymagick15 9 years
I recently cut up 4 of my credit cards and am starting to pay them off one by one. We want to buy a house in 3 years when my son finishes school and I would love to have my debt paid down much more than it is now. I didn't need all of them anyway. We are keeping 2 major credit cards, Home depot and Sears, and I cannot get rid of my Victoria's Secret card!!
MindayH MindayH 9 years
I only use mine for business expenses and online. I will continue to for all airline purchases. The protection I got on my ticket from ATA going out of service was proof that credit cards can be great!
bananapancake84 bananapancake84 9 years
I get into trouble so easily with my credit card. I always manage to pay the entire thing off within the month, but yesterday I decided to take my card out of my wallet and keep it only for emergencies. I hope that I can train myself not to need it!
RosaDilia RosaDilia 9 years
I'm currently closing on of my credit cards that I haven't used in about two years. I'm only closing it because I pay an annual fee on the card.
sundrops sundrops 9 years
It sucks when you have to make a hotel reservation or order something you can only get online, but NOT having a credit card number in my wallet or even easily accessible has really been the only way to stop using it.
verily verily 9 years
Already covered. When I have a balance on it, I pay it off in less than 2 months.
Lovely_1 Lovely_1 9 years
Already did :D I only use it for things I HAVE to use it for (like online bookings etc.) BUT I pay them off that same day :)
kcwebgirl kcwebgirl 9 years
kicked the habit years ago. oh if financial education was as available as everything else.
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