The Price Makers presents: how to cut your credit card bills in half!
If you want to learn how to cut your credit card bills in half, this article is for you. I have to admit that I was a great advice giver in terms of what to do with money and how to spend it to reach your financial goals, but I was the worst at following them. For years, I would dispense sage wisdom to friends and family about budgeting and saving, all while my own credit card statements were quietly spiraling out of control. It was a classic case of “do as I say, not as I do.”
I loved to buy things whenever there was a sale going on; retail therapy made me feel better and happier; and getting snacks from the grocery stores was one of my guilty pleasures. That quick hit of dopamine from a new purchase or a cart full of my favorite treats was a powerful, albeit temporary, fix for a stressful day. A “quick look” online would turn into an hour-long session with three different online carts full, and a simple trip for milk would result in bags overflowing with chips, fancy cheeses, and imported chocolates.
However, when I woke up one morning and faced a staggering credit card bill that had grown to an uncomfortable four-figure sum, I told myself that I had to stop because I spent too much money, and let me tell you my wife isn’t exactly a saver herself. We were a team, for better or worse, and our combined habits were creating a perfect storm of debt. The moment of clarity wasn’t just a number on a page; it was the sudden, cold realization that our spending was compromising our future. So I decided to put my foot down and tell myself something like this: “Alexander, it’s time to cut your credit bills in half”.
Inflation might be slowing down, but the cost of living is still high. According to studies, in May 2023, Americans were spending more than $400 extra per month on fuel, housing, and food, compared to the same period a year before. We felt this personally every time we filled up the car or went through the checkout line. That extra $400 wasn’t just a statistic; it was money that could have gone towards savings, a vacation, or paying down our debt faster. It was a constant, draining pressure on our monthly budget.
If you’re like me and inflation is forcing you to reevaluate your shopping habits, you’re at the right place, because I can teach you how to cut your credit card bills in half. This isn’t about complex financial instruments or unrealistic austerity measures. It’s about making conscious, deliberate changes to your daily routines and mindset. It’s about regaining control from the automated, impulse-driven world we live in.
I decided to test these tips myself, and while the journey here wasn’t easy, I’m proud to say that both my wife and I managed to save a ton of money with these simple changes in our lifestyle. The first couple of weeks were the hardest, breaking old habits that were so deeply ingrained. There were moments of temptation and frustration, but seeing the credit card balance start to shrink instead of grow was all the motivation we needed to keep going.
It might seem hard to believe, but I tell you from my experience that if you religiously follow these suggestions, in just a month you’ll be able to cut your credit card bills in half. The key is consistency. You can’t just do it for a week and expect miracles. But by committing to these principles, you create a powerful momentum that builds on itself. It seems hard to believe. Then let’s get this party started because these tips work!
1. Bye-bye shopping apps
I don’t know about you, but I love scrolling through several shopping apps, feeling like I have immense power at my fingertips. Online shopping makes people’s lives a lot easier, but it also makes us purchase things we don’t need just because it is convenient. These apps are masterfully designed to keep you engaged. The endless scroll, the personalized recommendations, the push notifications alerting you to a “flash sale”—it’s all engineered to trigger your impulse to buy.
For example, I’m passionate about sneakers from both Nike and Jordan, and the fact that I had the Nike app on my phone constantly made me open it and order a new pair. A notification about a limited-edition drop would send my heart racing. Before I knew it, I’d be justifying another $200 purchase for a pair of shoes I’d probably wear only a handful of times. So, that’s when I knew that my sneaker passion had gotten out of control and it was time to make some changes. Looking at my overflowing closet, I realized the temporary thrill of the purchase was quickly replaced by the lingering guilt of the expense.
If you want to cut your credit card bills in half, I recommend you do the same thing I did, which is to delete all your shopping apps on your phone. Not just move them to a different folder—press down on that icon and hit delete. It might feel drastic, almost like you’re cutting yourself off from the world, but this single action removes the biggest and most persistent temptation from your daily life. You’re taking back control of your attention.
Out of sight, out of mind, so don’t be afraid to make a few changes, because that’s how you’ll manage to save money. At first, you might find yourself instinctively reaching for your phone to scroll through your favorite app. But when it’s not there, you’re forced to pause. That pause is powerful. It gives you the space to ask, “Do I really need this?” Besides the financial aspect, this tip will also help you significantly reduce the amount of time you spend on your phone. I was shocked to see how much free time I suddenly had, time I could now use for reading, walking, or actually talking to my wife.
Do you have any tips on how to cut your credit card bills in half? Removing the source of temptation is often the most effective first step. It’s not about willpower alone; it’s about changing your environment to support your goals.
2. Allowance for my wants
I know you want to cut your credit card bills in half, but you don’t have to go cold turkey. In fact, I strongly advise against it. Completely depriving yourself of everything you enjoy is a recipe for disaster. It’s like a crash diet; you might see quick results, but it’s unsustainable and often leads to a massive rebound. You have to treat yourself every once in a while and let me tell you how you can do that.
Give yourself a small allowance each month for things that you want but don’t necessarily need. This means that you have money to spend on the things that bring you joy, such as makeup, clothes, kitchen utensils, and everything you like. This is your guilt-free fun money. Knowing you have a dedicated fund for these items removes the feeling of scarcity and makes you a much more intentional shopper. You start prioritizing what truly brings you happiness.
This will make you feel satisfied that you can still enjoy everything that makes you happy; you save money, but you don’t feel like you’re completely restricting yourself. The key is that the spending is planned and budgeted for. A planned purchase feels like a reward; an impulsive one often feels like a failure. This simple shift in perspective is transformative for your financial well-being.
During my experiment, I tried to gather as much information as possible so that I had an easier journey trying to save money, and I’ve come across some tips Levon Galstyan, a certified public accountant at Oak View Law Group, shared. He emphasized that financial control comes from clarity, not just restriction, which really resonated with me.
What he said was that you need to follow a basic formula to keep things simple and help you balance your budget between necessities and desires. Before you can set an allowance, you have to understand where your money is actually going. This was the most eye-opening part of the process for my wife and me.
Grab your phone and open your notes, or get a pen and a piece of paper and write down everything you buy, but divide those things into categories, such as household supplies, food, insurance, and subscriptions. Be brutally honest here. Every coffee, every magazine, every small online purchase. When you’re done with that, arrange them again into needs and wants. Needs are things like rent, utilities, and basic groceries. Wants are things like dining out, entertainment, and that fancy coffee.
Add up the totals, and then set your financial priorities. The “wants” total was a shocker for us. Once you have a better idea of how much money you spend on everything, decide what is most important to you. After that, you can set a specific amount for your needs. For me, $50 was a decent amount for my personal “wants” allowance, but it could be more or less for you, depending on your financial goals and income. My wife and I each set our own separate allowances, which gave us autonomy and prevented arguments over each other’s spending.
Cut your credit card bills in half by writing down your financial goals as well as your needs and wants. Having a tangible plan in front of you makes it real. Click here to get a fantastic agenda that will motivate you to start saving money!
3. Grocery shopping lists
Another way to cut your credit card bills in half is to pay extra attention to your grocery shopping habits. Yes, food is a necessity, and you need it to survive and do your daily activities, but there are some ways you can go home with a cart full of things you need and still manage to cut your credit card bills in half. The grocery store is a battlefield of temptations, strategically designed to make you spend more than you intended.
When my wife and I went to the grocery store a few months ago, we were tempted to grab all the snacks off the shelves because we were just craving them. We were the classic “hungry shoppers,” which is the worst mistake you can make. The end-caps screamed with promotions, and the aroma from the bakery pulled us in like a magnet. We’d go in for five items and come out with twenty-five.
Besides that, we were also tempted by all of those incredible buy-one-get-one-free wine sales. We convinced ourselves it was “a good deal,” but in reality, we were just spending more money and stocking up on things we didn’t immediately need. We knew we needed to stop all of these impulses because they were getting out of control, especially with those unhealthy snacks and too much wine. Our pantry was full, but our bank account was emptying fast.
If you want to cut your credit card bills in half, I suggest you make a shopping list and write down everything you need. And here’s the crucial part: stick to it religiously. Don’t think about restricting yourself too much, because that can cause problems. Instead, think of it as a mission plan. Your goal is to get in, get only what’s on the list, and get out. Allow yourself to get one thing that you don’t need, but no more than that. This little bit of leeway prevents the feeling of total deprivation and can help you stick to the plan long-term.
Don’t forget to do a bit of pantry and freezer shopping before you head out, so you know what you already have and can come up with meal ideas to keep things interesting and use everything you bought. We started doing a “pantry challenge” once a month, trying to create meals using only what we already had. It’s amazing what you can come up with, and it dramatically reduces food waste and your grocery bill.
Another tip I have for you is to get fewer name-brand items. Store-brand products are just as good as regular ones, the only difference being that they’re more affordable. We did a blind taste test at home with things like cereal, pasta sauce, and crackers, and half the time we preferred the cheaper store brand! The savings from this alone can be substantial over a month.
You can always sign up for a store’s newsletter to be the first one to get the newest deals, and don’t forget about their apps or membership programs either, because those can help you collect coupons and deals to reduce your spending. I dedicate about 15 minutes before our weekly shop to scan the digital circular and clip any relevant coupons for items that are already on our list. It’s a small time investment for a significant return.
If you want to know other tips on how to cut your credit card bills in half, keep reading! Mastering the grocery store is a huge piece of the puzzle.
4. No more sales for me
There’s nothing like walking into your favorite store or browsing a retailer’s website and noticing their sale section and a colorful “30% off” banner overhead. The psychology is powerful; it creates a sense of urgency and a fear of missing out (FOMO). While sales are a fantastic way to get everything you want and still save money, especially on big purchases, they’re not going to help you cut your credit card bills in half if you’re always their victim.
Those on-sale products might seem like they help you save some cash, but if you keep adding and adding items to your cart, don’t you spend more money than you originally wanted to? A sale can trick your brain. You aren’t thinking “I’m spending $70,” you’re thinking “I’m saving $30.” Retailers know this and use it to their advantage. I once bought a highly specialized kitchen gadget for 60% off. It seemed like a steal! It’s been in its box in the back of a cabinet for two years. That wasn’t saving 60%; that was wasting 40%.
Of course, if you need those items, go ahead and make that purchase, but if you want and do not need them, you’d better find something else to focus your attention on. The key distinction is planned versus impulse buying. If you’ve researched new washing machines for weeks and the model you want finally goes on sale, that’s smart shopping. If you’re just browsing the “Clearance” section and grab a shirt because it’s cheap, that’s where the danger lies.
If you want to cut your credit card bills in half, you’d better avoid the sales, because those discounted products will trick you into thinking that you need them when in reality you don’t. I implemented a “24-hour rule” for any non-essential purchase. If I see something I want, I wait 24 hours. Most of the time, the urgent “need” for it completely vanishes. This simple pause helps to separate genuine desire from marketing-induced impulse.
While it might not be an easy journey if you want to cut your credit card bills in half, you’ll need to be focused on what you need, avoid buying things out on impulse, make grocery shopping lists, delete those shopping apps that make you spend way too much money, and focus on saving, but still give yourself permission to get a little treat every once in a while. You deserve it! It’s a holistic approach where each small change reinforces the others, creating a powerful new habit of financial mindfulness.
Other than that, follow these tips, and you’ll notice that you’ll cut your credit card bills in half in just a month! This isn’t just about saving money; it’s about reducing stress and gaining a profound sense of control over your life. The peace of mind that comes from seeing your debt decrease is worth more than any impulse purchase. What do you think about this article? Was it helpful to you? Leave a comment below and let us know what you think!
If you want to read something else from The Price Makers, here’s a fantastic article for you to check out next: These Amazing 9 Coupon Sites Will Save You Hundreds
