Don’t Cut Up That Credit Card

You’ve probably heard the advice to cut up all your credit cards as a way to help you overcome the temptation to spend more money on them.

If you’re dealing with more debt than you can handle, this might seem like a good idea.

But if you’re thinking about forcing yourself to go cash only by getting rid of those cards, there’s something you should consider.

What happens if there’s an emergency and you need to pay for something that you haven’t got enough cash on hand for?

Let’s say you need some major repairs to your house or your car, for example. If all your credit cards are cut up, how would you pay for it?

It’s a good idea to keep one credit card in one piece in case something like this comes up.

And if you’re thinking of canceling your credit cards, the same advice applies.

But how do you stop yourself from using it when the temptation strikes?

It sounds a little crazy but one of the best ways I found to stop myself from pulling the card out back in my overspending, debt-ridden days was to put the credit card in a can, fill it with water and put it in the freezer.

When the card is frozen inside a block of ice, it takes a bit of work to get it out. If you need it for something important, it can be done (unlike trying to piece together a cut-up card) but if you’re thinking about buying that latest gadget or the thing you just saw on the shopping channel, it’s enough work that you probably aren’t going to do it.