Weaning Yourself Off A Credit Addiction

By Author: Nicholas Hunt
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Credit addiction is very similar to drug or alcohol addiction, and the consequences are just as devastating to yourself and to your family. The decision to wean yourself off of your credit card addiction is not impossible, and can be much more pleasurable without the physical withdrawal experienced like other addictions. In fact, you will soon feel free of a heavy burden, making your life easier and more enjoyable.

In many places around the world credit serves a purpose. It can be a blessing in situations where you are faced with a problem and only money will solve it -- money that you do not have at that moment. Originally, that is what credit was about. It was a sort of loan upfront so that a person could acquire the necessary service or item that they needed to make their business run smoother or their home life easier. But credit has become a source of stress and hardship for people that have used it for purposes other than necessity.

Credit is a privilege and not a right. Many people face the consequences of irresponsible use of credit that has been extended to them. Although it is true that many creditors ...
... extend credit to people whether they ask for it, or even need it, it is ultimately the responsibility of the individual who must refrain from the temptation of accepting unnecessary credit offers. Once the charge/payment cycle begins people soon find themselves out of cash for the necessary items they need. It then becomes necessary to use credit for the majority of purchases because there is no alternative source of money. This is credit addiction. Becoming aware of the depth of debt is the first step to wean yourself off of your credit addiction.

In many societies banks glamorize the use of credit through advertising, making credit cards appealing to those who want their dreams to come true immediately with a “buy now -- pay later” attitude. This is a deceitful and dangerous ploy which makes your creditor rich and you in debt -- with interest. It takes a strong will and determined mind to refuse such offers.

For people that have been caught in the credit trap there are ways to wean your self from credit addiction.

Refrain from the temptation to accept a credit offer. Just because it was offered does not mean you have to take it.

When accepting credit and using it, use it for items absolutely necessary such as, homes, cars, appliances, education, and other valuable items.

Do not use credit to purchase everyday items such as clothing, makeup, electronics and small home furnishings, and other nonessential items.

It is not necessary to have more than one or two credit accounts, and doing so can cause you to use those accounts unnecessarily. To successfully wean yourself off of your credit card addiction you must minimize the use of credit or eliminated altogether. In the long run having cash on hand for the things you love to buy will never be a problem.

About the author: Nicholas writes for http://www.debtnation.co.uk/ and you can read more about how to deal with credit card debt at http://www.debtnation.co.uk/tackle-credit-card-debt.html