JEN'S TOP 7 TIPS TO HELP YOU STOP 

OVERSPENDING!

1. Get a pre-paid debit card. These cards can be found at your local Currency Exchange. You simply present the Currency with cash and they load it on to a card.  Its that simple.  You will have to pay a small fee with every deposit transaction you make.  You are not charged for your debits.  You cannot spend more than what's on the card. This should curb frivolous spending and give you the advantage of seeing all your transaction charges on-line.  Knowing what you spend your money on and how much you're spending will ultimately give you the advantage of creating a budget that you can live within. 

2. Go on a diet. Cutting calories also cuts the fat out of your food budget. 

3. Move-in with family. In a bad economy family members that live together and share expenses are more likely to be individually financially secure and independent.  So swallow your pride and work out your differences.

4. Exercise. You can become more financially fit, if you exercise at least five times a week.  How?  When you work out your body releases a hormone called epinephrine. It produces a natural high.  Exercise has also been linked with increased serotonin levels, which is a chemical released in your brain that prevents depression and helps you focus.  With heightened levels of these stress fighting agents in your blood stream you are less likely to spend money on comfort foods and engage in self destructive, maladaptive behaviors as a form of dealing with your financial stress, such as resorting to drugs or binging on alcohol or worst yet- gambling.  So go for a bike ride, walk, or jog while its still free to walk or down the street in America.

5. Hide your credit cards from yourself.  Need I say more...

6. Get Credit Counseling.  There are many not-for-profit companies such as Money Management and the Debtorwise Foundation that help consumers learn to budget and re-prioritize their spending.

7. Get Marriage Counseling.  If you and your spouse have difficulty communicating about financial matters or have different financial priorities, you both need counseling.  Understanding each other and learning how to do better can actually save your marriage in the long run.  Financial stress ranks high on the list of reasons why couples divorce in America. Divorce is generally more expensive than a few counseling sessions.

These seven tips do work. If you are doubtful, just think for a moment and do a self assessment.  Next, implement these strategies over a month's period of time and I am sure you will see a positive difference in your spending habits.

By:

Jennifer A. Blanc

Jennifer A. Blanc is an attorney who has successfully resolve the financial stress of more than a thousand individuals in just the last decade and files Chapter 7 Bankruptcies and Chapter 13 Reorganizations for individuals in order to help them get a fresh financial start.  Call Jennifer at 708-848-LAW-1 (5291) or visit www.jenniferlawone.com.