No Credit Card

It’s three weeks ago today that I took the credit card out of my wallet and haven’t used it. I know that doesn’t sound like much, but it is progress.

The Husband continues to use credit, but I was definitely the primary culprit of that debt albeit always for things for the family and never just for extravagant gifts for myself.

I’m hoping that by taking the option away, I will become more mindful of my spending and so far it has been working.

We have done a lot of spending since I took that card out of my wallet: back-to-school manis/pedis, haircuts, school supply shopping, tons of grocery shopping, and back-to-school shoes for The Kids. And because I budgeted for it, it was all paid for in cash! Admittedly, we haven’t made as much progress towards our credit card debt as I would like, but I haven’t added anymore to my credit card debt either. We are also able to fund a very expensive jewelry repair… in cash.

When we go to the store, I have been more prone to only get what we planned for or only what has been on my list. I have been much more cognizant of what I was buying and how I was going to pay for it since I didn’t have a credit card to fall back on.

Taking the credit card out of my wallet is forcing me to pay close attention to what I’m buying and whether or not it’s something I really need or just an impulsive want. It’s also forced me to be a better budgeter; I need to have money available for planned expenses because I’m not putting them on credit.

It’s definitely early days yet in my renewed quest for debt freedom, but I’m optimistic that we are going to get it right this time. Taking the credit card out of my wallet is just one part of our quest. Budgeting and paying cash are another part. And discipline, discipline is the most important part of this quest and I’m hoping I can exercise enough discipline that I will start gaining traction!