Times are tougher than Vernon Koekemoer's biceps at the moment, yet many of us are slipping further into debt because we have compulsive spending habits which we find hard to break.

Virgin Money provides seven simple strategies for keeping unsmiling debt collectors from popping round at 5am:

  1. Be aware of just how much money you spend

    Just like standing naked under neon lights in front of the mirror might prompt you to hit the gym, taking time to work out how much money you're blowing on various items might shock you into reducing your spending.

    For example, on a night out it is easy to spend much more than you think especially if you pay for the 1992 Dom Pérignon and Beluga Caviar on cards. And those small cost items like take-aways, coffees and drinks we buy without thinking twice really add up. It's useful to take a glance at your credit card statement at month end — while you're sitting down of course.

  2. Avoid impulsive spending

    If you're under the shopping spell and can't help buying on impulse, make an effort to have a moment of reflection before buying anything. If you see something you would like to buy wait a day before taking the plunge. You'll come back if you really want it, but it does give you a chance to rethink.

  3. Don't spend time where it is easy to spend money

    If we spend a lot of time in shrines to the Consumer Gods like shopping malls we will be drawn to spend money. So, rather go live in the Karoo for a month. Not really. This spending is often to relieve our boredom and not because we really need what we're buying. Therefore, don't spend every lunch break wandering around your favourite shops with your money screaming at you from your pocket. Get a hobby. Walk your dog. Walk other people's dogs. Dog other people's walks.

  4. Have clear objectives when shopping

    Before going shopping have a clear objective of what you need to buy. Be more specific than 'new clothes to look irresistible'. This means that you will buy things because you need them and not because the little devil on your left shoulder made you do it.

  5. Avoid spending by habit

    Spending is often a daily habit like brushing our teeth and complaining about Robert Mugabe, but much of this spending could be unnecessary. For example, just because you spend R50 a day on lunch doesn't mean this habit has to continue forever. Try taking your own lunch. It's really a good idea to review all your habitual spending patterns and decide whether they're necessary. And then carry on complaining about Robert Mugabe — that's allowed.

  6. Give items objective ratings

    Before channelling Paris Hilton and hitting the shops give the target purchase an objective rating of how much you need it out of ten. If you are honest in your valuations you will think carefully about buying things which are less than eight out of 10. This goes for dating people that are less than eight out of 10 too. OK maybe seven, depending on, you know, how long it has been.

  7. Give yourself strict income limits

    If you really have trouble controlling your spending it will be very effective to give yourself strict limits to weekly spending. If you learn to live on, say, R1000 per month of discretionary spending, you will value money more and learn more frugal habits. And you'll be able to retire sooner. Nice.