Gary North

You may have a credit card problem. You may be a junkie. You have to stop. Today.

I am writing this for true addicts. I am not writing this for casual users.

"Know thyself." Take an inventory of your spending habits. Is your credit card like the first beer at the corner tavern for the alcoholic? If so, you must get rid of it. Today.

Cut it up. Don't cancel it. Just cut it up.

If you cancel it, this could hurt your credit score later. Just cut it up.

If you really need a card for emergency purposes, get a debit card. You can only spend what you deposit in the account.

A debit card lets you track your purchases at the end of the month. This is useful for setting up a budget and sticking to it.

A debit card lets you bank on-line. This is also useful for tracking your spending.

I am not asking the impossible. I am saying this: You must shift from credit to cash. If you don't have the money, you must not buy. End of story.