How I Battled to Resist the Temptation to get out of Debt

Today’s post is contributed by Amy Nickson, a passionate writer on finance. Amy is a professional blogger who has started her own blog and also works as a contributor for the Oak View Law Group. Please share your opinions by commenting below.

In my last post in WalletSquirrel, I said that I was a reckless spender. My irresponsible spending habit and lavish lifestyle invited $88,000 debt in my life. After an intense financial struggle, I got out of the debt trouble.

Getting out of the debt was tough, but resisting the urge of spending money was tougher for me.

A person who wants to get out of debt fast has to resist the shopping temptation.
Today, I will share how I battled the temptation of spending money during my debt payoff journey.
I hope you can get a bit of motivation with this story.

There was a time when I couldn’t leave home without my credit card. I choose my favorite item and swipe the credit card to buy it. I never checked the price tag.

So the first battle was to give up the plastic (credit card).

I started carrying cash instead of the credit card

It is quite difficult to resist the urge of spending money temptation when you carry a credit card. You know that you can buy whatever you want by swiping your card.
So, I started carrying cash when I have to buy supplies like groceries or clothes.

It helped me to stop buying unnecessary things.

When my cash exhausted, I had to stop buying. It really helped me to curb excessive shopping.

Tip: Do you feel that something is missing if you step out of your home without a credit card? This shows that you’re totally dependent on plastic money. So, be aware!

• Start carrying cash instead of credit cards.
• Check your credit card bills.
• Pay the outstanding bills as soon as possible.
• Check your credit limit.

I started asking myself before buying an item

When I couldn’t resist myself from buying an item, I started asking myself whether or not I really need the item. It helped me to think about the items that I already have. It helped me to avoid buying unnecessarily.

I stopped window shopping in my leisure time

Shopping malls were my favorite destinations to visit in my leisure time. I loved following latest fashion. I loved buying dresses, jewelry, shoes, and bags that are latest in fashion.

When I was deep in debt, I totally stopped visiting the shopping zones.
I started reading books especially financial books or magazine. It helped me to gather knowledge on debt payoff strategies.
Also, I was not in the mood to have fun because I had lost my mother at the beginning of my debt journey.

I ditched Starbucks

Starbucks was the all-time favorite place for me and my ex-boyfriend to chill out.

Every time it costed me dearly, but I never say “No” to the Starbucks. After getting the debt shock, I decided to ditch Starbucks. It really helped me to save a lot of money that I spent on those morning lattes and sandwiches.
I love coffee, who doesn’t “smile”.
Trust me, I make my own coffee now. It is such a bliss than those freaking credit card bills.

I stopped eating out

After Starbucks, I ditched all the nice restaurants where I went for dinner either with my friends or my ex-boyfriend.

Well, even not I can’t cook like a pro, but I had to stop eating out to curb expenses.
I struggled a lot to prepare the meals since my mom was no more with me. But gradually, I learned how to cook, bake a nice cake, and make coffee.
Now, I visit the restaurants rarely. In case, I visit twice a month, I skip the next gathering for sure.
Well, I have to keep ready an excuse to avoid the friends meeting. Do this, you can save a decent amount of money every month.

I started living a frugal lifestyle

I started living a frugal lifestyle; it helped me to think differently. When you are living a frugal life, the first thing that you have to accept is less is more.

It forced me to shop less. Thus, I started saving money. The interesting thing is, living a frugal life doesn’t mean being cheap. The rule is to buy a quality item that you truly need. Spend money on a thing, which you need and is worthy.

Also, when I researched about frugal lifestyle, I learned that eating homegrown food, going eco-friendly, and living on less are actually make our lives simple and peaceful.
Since, I live in a big house, which has a front yard, I started growing veggies, flowers, and things that are basic for the kitchen.

I sold my car

I was obsessed with the long drive; I used to plan multiple trips in a year.

Well, I had to sell my car to pay off the car loan.
But after getting rid of that car, I was able to save a big amount.
Well, even now I love traveling. But I remain happy with 1 or 2 weekend trip. Now I plan beforehand so that I can save money for the trip. It also helps me to avoid credit card to fund the trip.

Tip: Don’t use credit cards to fund your trips. Remember, travel reward points, sign up bonus, miles are the baits credit card company uses to entice users.

I started tracking my monthly bills

I was not serious about financial matters like monthly bills, credit card bills, and other household costs. My mom used to deal with these. When she passed away, I had to learn about all these financial matters.

Soon I learned how important to get a clear idea about credit card terms.

When you don’t have a clear idea regarding your total outstanding balance, you may be sure that your credit card spending is out of control without you even realizing it. You may have a vague idea regarding how much you need to pay but you don’t know how much you owe on each of your cards.

I started paying all the monthly bills on time including credit card bills.

For a certain time, I used the credit card as a debit card. It helped me to stay regular on bills.

Tip: Don’t miss credit card bills. You have to pay the bills in full and within the time.

I started following a budget

Honestly speaking, due to the debt burden, I was not in the financial condition to create a budget.

When I started avoiding credit card and excessive shopping, I was able to save some money.
I started doing a job as well.
Thus, I started following a budget so that I can make debt payments and other monthly bills on time.
The budget helped me to understand where my money was going. It helped me to list the necessary expenses and eliminate junk expenses.
Once I had successfully get out of debts, I started saving money more.

Now I have 3 months of savings in an emergency fund and all because of the personal budget that I follow every month.

Lastly, remember, living debt free is awesome; also living on less is amazing. Experience it and see the changes in the quality of your life.

You can sleep peacefully, you can laugh wholeheartedly, and you can enjoy your life in your own way.

So, if you think you are spending more than you earn, then stop yourself. If you think, you are making a wrong financial decision, then think twice.

Remember self-realization is the best help.

Ask yourself these type of questions; you will get the right answers.

• Are you using credit cards responsibly?
• Are you able to pay off the outstanding balances at every billing cycle?
• Are you regular on other monthly bill payments?
• Do you really need the item now?
• Which one is more important for planning a vacation or fixing the roof?

I should agree that resisting the urge of spending money was not easy for me. I learned the importance of good money habits when I had to. Otherwise, I had only one option- filing bankruptcy that means losing my home.

Thanks to the Almighty who helped me to overcome the credit temptation.

You can also resist the urge of getting spending spree. Give yourself a chance.

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