If you are in debt, odds are that on your own you are not great at managing money.
So to get out of debt, you’re going to have to get a little sneaky. Here are some ways to “trick” yourself into saving more, paying bills on time, and managing your finances better:
Put your savings on autopilot. Set up a savings account and have your bank automatically withdraw money from your checking account and deposit it in savings. Do this even if you literally can afford $10 or $20. If you can set up the kind of account, like certificate of deposit accounts, where there are substantial penalties for early withdrawal, that is even better, because you are less likely to raid the account.
Put your bill paying on auto pilot. Most banks these days will mail checks for you on whatever day you tell them to. Or you can pay bills online.
Do the old “freeze your credit cards in a block of ice” trick to make it harder for you to grab your credit card and use it for an impulse buy. Or stash the credit cards in a safe deposit box.
When you go shopping, decide in advance how much you will spend, and bring cash. Leave your checks at home, leave your credit cards at home. You’ll be far less likely to splurge. Discover how to get out of debt fast
