Monday, January 26, 2009

Just call me McScrooge

Last year I took a long, hard look at my spending habits and made a conscious decision to curb my shopping.  I thought it would be difficult, since up until the time Ifelldownthestairsandbrokemyleg, I was making weekly trips to Wal-Mart where I made frivolous, impulsive purchases.
Turns out, recovering from a broken leg seriously hinders lengthy shopping expeditions which in turn means less money spent.  I also took sister-in-law Jenny's credo of not buying anything on credit.  If I can't pay cash I don't purchase. Even Christmas, 95% of my Christmas purchases were made online and paid for through PayPal which is directly linked to my bank account.
The upshot of all this thrift is that my bank account has grown very healthy and I've turned into a bit of a miser who likes to call the 1-800 number for my bank and check my account balance nearly every day.
And to give you fair warning, It also make me less likely to buy you pretty things for your birthday!!


Sanna said...

my debit card (DEBIT not CREDIT)changed my life. I usually always had the money to buy something, but writing a check or getting cash was a drag. so i used the credit card for the convenience of a simple check-out experience, but then rarely followed up by paying the credit card account in full.

it wasn't until i FINALLY got a debit card that is backed by VISA (and not just a check card)and comes directly out of my account did I change my spending habits. Now, the only thing i use credit card for is booking business travel hotels and rental cars. and that I get reimbursed for and pay automatically when i get the expense check.

Ami said...

I love being able to see my savings balance go up. I check it all the time. I'm a firm believer in paying cash for everything these days, although I do often use my credit card (to rack up the miles) and then (usually) pay it off at the end of the month. I only use my credit card if I know that I have the money in the bank to buy whatever it is I'm charging. I'm also working harder at not buying things I don't need. I try to avoid Walmart or limit myself to 1 trip a week because I tend to find things there that I JUST HAVE TO HAVE. A couple dollars here and a few dollars there really adds up.

Misty said...

we stopped credit charging over a year ago and it's been incredibly therapeutic for our spending. Judging our spending is second nature now.

Erin said...

This is something I've been working on for a few months. It's getting better, but I've still got a ways to go :) I love to shop and it's hard for me to say no. So good for you.

Jenster said...

Good for you for not going into debt! I've tried to cut my shopping trips (groceries and other errands) to only one or two trips a week and to go with a list. It's hard to separate the "needs" from the "wants," but I keep trying.