It’s much easier to overspend with a credit card than by cash.
Because, with cash, the pain of departing with your hard-earned money is immediate. So you think a lot before you spend.
With a credit card, you don’t feel the pain until you see the bill next month. So you tend to overspend.
I have the habit of overspending. So how do I increase the pain of paying?
I left my VISA cards at home and switched to a DBBL Nexus card. It only allows me to withdraw money from ATMs. Many of the restaurants I visit don’t accept it. So I have no choice but to pay with cash.
Carrying a lot of cash is a bit of trouble. But there’s a DBBL booth in pretty much everywhere. It’s a littler added inconvenience that helps to control my spending habits.
Another thing I have done is setting weekly goals for each category of expenses.
Now my monthly spending is one third of what I used to spend.