Credit card debt can seriously interfere with your enjoyment of life. Studies have shown that how a married couple’s rating of how happy they are is directly correlated to the amount of credit card debt they carry, so reducing your credit card debt can also improve your love life!
The best way to reduce your credit card debt is to cut back your spending in some area and apply that savings to your credit card debt. Be careful, though: You will not reduce credit card debt if you spend the money you save on something other than your credit card balances. An easy way to reduce credit card debt is to reduce your spending on food and drink consumed outside of your home.
Keep A Food Spending Diary
The first step in reducing credit card debt is to keep track on how much money you are spending on food. Doing this will open your eyes about how much you are paying others for the convenience of having ready-made drinks and meals. It will also give you an idea of how much you can save by making a few simple lifestyle changes.
If you change your habits too rapidly, you are more likely to feel overwhelmed by the changes. On the other hand, making slight moderations to your food spending habits is more doable. Sticking to your plan will leave you feeling proud.
Coffee Drinks: How to Cut Back
There is no denying it, coffee shops like Starbuck’s have become a strongly entrenched part of modern American culture and breaking the cycle of high priced coffee spending is anything but easy. Buying a five dollar coffee, tipping the employees, and then adding a specialty pastry like a bagel, scone, or croissant is an expensive morning routine.
Reduce credit card debt by making coffee at home and skipping the stop at the coffee shop. You can buy a coffee brewer and a pound of coffee for about the same amount you spend on coffee drinks in one week.