Getting Off The Credit Card Hamster Wheel

By Melissa Tosetti

It seems impossible to get through life now without having to use a credit card at one point or another.

It’s not safe to use a debit card for online purchases. If you rent a car or stay in a hotel using a debit card, those companies place a very large hold on your account which can cripple the card and your ability to use it.

We’re nearly forced to have to use credit cards by the way business is done in this day and age.

So, if you’re trying to pay off credit card balances, how do you make any headway?

There’s a simple trick our clients have successfully used to get off The Credit Card Hamster Wheel and that is:

The moment you complete a purchase using your credit card, log onto that card’s website and immediately pay the amount of the purchase you just made. 

That’s it!  That’s the trick.

If you’re out and about when you make the purchase, simply take care of it as soon as you get home.

Your credit card becomes a form of currency rather than a loan. This reinforces that you  know you have the money to make the purchase ahead of time, rather than buying on impulse.

The key to implementing the trick is to immediately pay the amount off on your card.  It’s critical that you don’t wait until the next day.  The moment you procrastinate, the likelihood that you’ll actually execute the trick diminishes and you’ll only add to the credit card balances you’re trying so hard to pay off.


Melissa Tosetti is the founder of The Savvy Life and author of the international bestseller Living The Savvy Life. For the past eight years, she’s worked with over 450 individuals and families to create Spending Plans.

Melissa also works with financial advisors and their clients doing cash flow planning as well as giving over 200 Savvy Living presentations via webinar and in-person to audiences across the U.S.

If you’d like to learn more about how Melissa works with clients visit The Savvy Life’s Programs page.

If you’d like to learn more about how Melissa works with financial advisors and their clients visit: The Savvy Life Advisor’s Page