Credit Card: Compulsive shopping & spending addiction

[istoryaaah]

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Since rampant na kaau ang pag gamit sa credit card karon. Halos hapit na tanan nako kaila naa naman silay credit card. I would just like to share something from an article on the internet.

Credit cards help you buy lots of stuff-and then, even more stuff. Fortunately, there are a few simple ways out of this charge card mania.

Some of us pay the bare minimum on our credit card bills, racking up huge debts over time. As interest and service fees pile up, convenience checks from one card pay the bills on another. At this point, the credit card user has become a credit card abuser.

Do you recognize yourself in that description? If so, it's time to break out of this vicious cycle. But you don't have to go cold turkey-just a few simple changes to your shopping and payment habits may be enough to cure your craving.

Debt discipline
Step one is to simplify your finances. You don't need eleven credit cards, and you'll be far better off canceling most of them. Either transfer your high-interest balances to a less expensive card, or take out a second mortgage for debt consolidation if the load is too large. The repayment terms and interest rates on these loans are sure to beat any credit card on the market.

Step two is to make sure that you don't fall into temptation again by signing up for new pieces of plastic purchasing power. Opt out of credit card solicitations by calling 1-888-5-OPTOUT, and the credit bureaus will stop giving your information to prospective card issuers.

Mura wala pa man tay Credit Bureaus? huhuhuh mga law makers please ko pass og bill!!! huhuhuh...

And finally, when your financial conditions permit, try to make more than the minimum payments-even on that consolidation loan. A little extra money in your pocket might feel good today, but when you look at the interest charges tomorrow, it will really hurt.

Go shopping, but don't pass 'Go'
Keeping your costs down will be much harder if you frequently hang out at the shopping mall. The same goes for browsing catalogs, scanning the net for deals, or subscribing to countless magazines that you'll never read.

When you need to go shopping, have a definite plan-preferably an actual shopping list. Stick to it at all costs. Don't fall for tasty in-store displays or pushy sales tactics. Remember, you're an addict in recovery who can little afford to fall back into those dangerous old habits.

Say no to seduction
Advertising and high-concept marketing is all around us. Companies spend billions of dollars every year trying to awaken your sleeping shopper, feed your need, or create an addiction. Don't let them. Knowledge is power, and it's easy to resist that urge when you know that buying plays right into some fat-cat corporation's game plan.

For the truly addicted, there's professional help. Credit card debt relief and debt settlement programs can get you back on track and mollify angry debtors. It's a valuable program for credit fiends. But you needn't go that far if you follow the much shorter and simple set of steps above.

[katy_aryan]

hmmmm.....this is worth reading huh...

[istoryaaah]

You may not know it. But you could be one of these people...

Credit card addiction: How to break the spending cycle

[mayvenp]

maau nalang wala ko credit card....

[purecebuana]

same here sad wla ko credit card, kay i knew myself that i can't control my spending if nko CC.. best thing debit card lang imo kuhaon kay good as cash rasad ni sya which u can use anytime provided naa sulod imo bank account..

[BoMBriones]

I agree mayvenp

It is basically not living within our means..... credit cards tempts us to spend beyond.....

Suggested reading for learning about managing your personal finances: The Millionaire Next Door ---- (sori cant remember the author) - Many US millionaires give this very valuable tip - Cut your card and send it to the trash can after paying it up (fully - remember they still ask u for annual charges; ya gotta un-subscribe to their services).....

although they can be useful only during emergencies but the convenience of paying without cash always is a big temptation.....

This is one Western habit/invention we adapted yet did not understood fully.... Westerners have bank accounts that that IMHO somehow helped them in keeping their interest rates (for CCs) low.... Unfortunately we do not keep this kind of habit plus our culture seems to make us showy over our financials (balatos, bangka-bangka, even the concept of fiestas nga magka-utang para lang maka-andam sa piyesta).... tsk tsk tsk CCs wrecks our financials..... (hey i got into this kinda trouble - twice!)

everytime you use your card - remember these (humorous) lines -
im spending my chance to build a house today! (say "bye bye dream house" after it swiped out)
im spending my chance to raise to a stable family today! ("bye bye ___"; place the name of your future spouse in the blank)
im spending my children's inheritance today!

So if yer salary is just enuff to pay yer basic charge and keep depending on yer 13th month pay... u r in trouble.... (if ya think yer parents can help ya, they will say bye-bye to their chances for a comfortable retirement or for an early retirement!)

An expert's advise goes this way (given the current state of global recessions, job loss, etc.) keep a savings account worth 1-year of your cost of living. That is your emergency fund! So that in case you lose your income, you still can survive 12-months without work!

Continue saving - this becomes your true savings and you can start spending from there...... and keep yer emergency fund intact and never be tempted to spend it - coz time comes you loss a job or a source of income - this will be very helpful......

[istoryaaah]

yeah exactly. I have experienced the same thing, althought I had the urge to stop it the moment it became uncontrollable but not many people can do the same.

Credit companies as we call them, does not help you through your expenditures. They help you create another expenditure. They are like coals and you are the burning fire. They are considered as one of the factors why US recession that is taking place. You might not feel it right now, but trust me and the many others who suffered the same fate. It will hurt... and it will hurt you bad...

The best thing right now is to burn your card and start saving...

[desertfox]

Nice one...Now, I'm just using one...instead of 5 before. Control is the key.

Continue saving - this becomes your true savings and you can start spending from there...... and keep yer emergency fund intact and never be tempted to spend it - coz time comes you loss a job or a source of income - this will be very helpful......

[over[s]eer]

On a positive note, if you spend within your means, credit cards are really very advantageous (read: rewards). I've had a couple of appliances from this already, and still counting.

But if you can't control spending, credit cards are not for you. You can blame the credit card, but itself alone won't create debts on your part, if you know what I mean.

[Metz]

On a positive note, if you spend within your means, credit cards are really very advantageous (read: rewards). I've had a couple of appliances from this already, and still counting.

But if you can't control spending, credit cards are not for you. You can blame the credit card, but itself alone won't create debts on your part, if you know what I mean.

+1

leche lng ning BDO di pa approvan ako card aron ma paris nako sa ako SM advantage card.