Do you ever notice how banks are really trying to push those handy little visa debit cards? And I’m constantly getting mail for the latest low-interest rate offer for ANOTHER credit card. Do you know why they do that? I’ll tell you why.
If it’s easy to spend money, well, then spend it we will!
They know this and have used their knowledge for evil…not good. They WANT it to be easy for you to spend your money. They also want it to be easy for you to spend THEIR money so they can make an even bigger profit off the interest. So my theory is this...
Credit/Debit Cards Baaaad!
Now visa and credit cards aren’t all bad. But very few of us use them to our benefit. They are great to have as ATM cards to get cash out of the machine. They are also great if you order things off the internet or have an emergency where you can’t get to your bank.
But we’ve found that for us, if it’s a little more difficult to get to our money, we have a bit more time to decide if it’s really something we want to make the effort to buy.
For example, we recently decided not to carry our cards with us. They stay at home in a safe place and aren’t conveniently in our wallets or our purses. When I make a purchase I have to calculate how much I’m going to spend before I leave the house. I make a plan and I’m forced to stick to it. Then I take the card out of its box, head to the cash machine and ONLY take out what I’ve decided to spend.
This eliminates impulse buys and makes me really consider what I’m buying as I shop. I don’t have the convenience of adding more to my grocery cart than I intended. I have to keep a running total as I shop and make sure that it fits in my budget.