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Think about it. You are carrying a lender with you each time you carry your credit card. The difference is, everything is pre-approved up to a certain limit, and you are the decision maker for the lender in deciding if this is a worthwhile loan to make or the item you want. That makes you the gatekeeper to your own lending and borrowing. That is a lot of power. You may have already heard, “With great power comes great responsibility.”
We are still human and not super human, so we can make mistakes. We can only strive to perfection. It starts one step at a time.
That brings us back to the point of a physical barrier between you and your credit cards. It basically creates a cooling off period, with a second thought to determine want versus need.
That physical barrier could be your sock drawer, china cabinet, safe or even safety deposit box which would really force you to go to the bank and get it, the same as it would be to beg get that loan. I heard one story where a couple actually froze their card in a cup of water. Then when they wanted to use it, there was just enough extra effort involved to get to it, which really made it easier to decide the necessity of the purchase. Decide what is best for you.
The seventh Financial Strategy is to create a physical barrier to restrain use of credit cards.