5 Steps to Break Your Credit Card Spending Habit

For a lot of people, credit cards have become less of a safety net and more of a lifeline. But at some point, you might want to stop and face up to the numbers.

“I am about to start my Financielle journey. I have put off worrying about my debt for so long, and it is now at around £11,500.

Any tips for surviving your first month without using any credit would be so helpful.”

– Listener of The Vault with Financielle

Let’s be real, it’s not about the credit card. It’s about control. Whether you’re someone who taps without thinking or someone who’s faced with regret every time the statement lands, breaking your credit card habit is your next step. 

Here are the 5 steps to break your credit card spending habit:

1. Know your triggers

Ask yourself when you reach for credit the most. Is it boredom? Stress? Last minute social plans? Once you notice the pattern, you can start to break it. Try swapping card tapping with something free, a walk, a podcast, listing items to sell online instead of adding to your debt.

2. Start tracking your spending

It’s time to face up to the numbers and look at where your money’s been going. Challenge yourself to a month of tracking your spending in the Financielle app.

3. Build a credit free budget

If you’re used to using credit for essentials like food or petrol, now’s the time to build a proper budget that includes paying for these things up front. A budget doesn’t mean you can’t have treats, set up a fun money sinking fund so you can enjoy the things you love without the guilt!

4. Hide the temptation

Take your card off Apple Pay, remove them from your online accounts and keep the physical cards somewhere inconvenient.

5. Lean on community

Changing lifelong money habits is so much easier when you’re around people doing the same. Talk to a friend, drop a post in the Financielle community or even drop an email to us at The Vault. Accountability goes a long way!

Listen to the full podcast episode here.