Saving Yourself From Yourself

Mary Hunt of Garden Grove, a recovering shopaholic and creator of the Cheapskate Monthly newsletter, has these tips to help improve an individual’s financial situation:

* No matter how difficult it is, save 10% of your income.

* Have your checking and savings accounts at different banks to make it impossible for you to make quick phone transfers of funds from savings into checking.

* Establish an account that requires two signatures to withdraw money.

* When you are tempted to use your credit card, don’t. Put all of your credit cards into a safe deposit box to remove temptation. If you can’t pay cash, you can’t afford it.

* If you are carrying a balance on credit card accounts, begin immediately to pay more than the minimum due. If you don’t, perma-debt will hang over you forever.

* No matter how tempting, do not accept or apply for more credit cards.