Spend spend spend! Tips to curb your spending

Credit Cards

On this day of age, our society is plagued by the disease of spending mercilessly on needless items. We get buried in bad debts, we max out our credit card and we spend our pay packet at the earliest opportunity.

I read in Australia’s Money Magazine and a few other sources the other day about tips on how to curb your spending. Here are a few tips:

1. Only carry some cash in your wallet. Use that cash for your daily spending. If it runs out, that’s it.

2. If you carry a debit card/EFTPOS card, make sure there’s not a lot of money in your transaction account. Leave some in the transaction account (let’s say 100 dollars?) and transfer the rest into a savings account where it will be harder for you to get to.

3. If you have a credit card and you don’t have the discipline to control your shopaholic habit, take out all the credit cards from your wallet and place it in a jar. Then, you fill that jar with water until the credit cards are submerged. Leave the jar in the freezer and let it freeze. So, the next time you plan to spend on your credit card, it’ll take you a bit of hard work to access those plastics. It also allows some time to put some common sense in one’s mind to not spend like a king.

(Photo courtesy of Wikipedia.com)

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About nadlique

This blog is about the journey of a 28-year-old Malaysian towards financial freedom. This blog was started back when the blogger was 21 years old. However, his journey towards financial freedom had begun way before that. Materials such as investing, business, entrepreneurship, equities, and real estate are presented. The author also posts his thoughts and observations on life in general.


  1. Hi…
    I just want you do some calculation for me, since you very good on sort fo tis calculating things…

    Let’s say I take personal loan for RM10,000 for 5yrs. The rate is 21% per annum based on reducing balance. The repayment is RM270.53 and fixed for d whole loan tenure.

    So could you tell me wat exactly means by REDUCING BALANCE?

    Wat makes it diff from FLAT rate?



  1. […] my previous post, I talked about a few simple ways to curb spending and to avoid burying ourselves with debt. Well, […]

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