Credit Freeze
Don’t worry, we’re not in any financial trouble, but we are under a credit freeze. Literally!
Not sure what you’re looking at in that picture? Those are our credit cards…on ice.
In our house, credit cards are for emergencies or well-planned-out strategies to purchase something, not for everyday swiping. Although I’ve always thought that credit cards are for emergencies, my definition of an emergency has changed over the years. Six years ago when I was fresh out of college in my entry-level-paying job, living in my first apartment two blocks away from the shopping district in Burlington, Vermont, I often confused cute shoes that were on sale with an emergency. It’s funny how that happens…
My shoe collection was starting to grow when I found an ingenious tip in a magazine (I think it was Real Simple) that said to put your cards on ice. Why ice? Taking your cards out of your wallet and leaving them at home certainly helps reduce the urge to swipe, but freezing them adds an extra layer of protection while still keeping them accessible. In order to use the cards, you actually have to go through the process of thawing them out, which really gives you time to ponder whether or not the purchase is worth it.
Although I’ve become much wiser about what qualifies as an emergency, I’ve carried this freezing habit with me into our marriage. Chris thinks I’m a little crazy, but he added his cards to the frozen concoction along with mine. Trust me, there is no better way to make sure you buy only things that you can afford than by pulling plastic from the mix. Frozen cards beat will power any day of the week!
So, there is my second money-saving tip for the week. Have you done anything creative to curb credit card use? Please share!
Great idea, I’ve been leaving my credit cards at home, so if I purchase something its either with cash or my debit card. Maybe I need to make this next step…
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I think I read about this idea as well but had not tried it out. I think it sounds fabulous because while they are still accessible you really have to think about it. But my problem would be that I have the number memorized so I could still be dangerous online.
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Best tip for getting out of the post college “emergency confusion” is snow balling. If your definition of emergency was shoes and clothes and make up and electronics and you have more than one card. Put them in order of smallest balance to highest balance. Figure out how much you can afford to pay total (which should be more than the minimum). Pay the min on the all the cards but the lowest balance. Put anything left over in your CC budget to the lowest one until it is paid off. Then tackle the next lowest one in the same manner, thus snow balling your efforts to pay them down.
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My husband would like to marry you if you ever become available!!!! Brilliant idea.
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love it. LOVE it. actually I hate it. I like to shop
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