It is extremely easy to get caught using your credit card over and over again. Taking your card out of your wallet feels like you aren’t spending any money at all (until you check your credit card bill later on). This past weekend I was caught doing just that, I have gotten into the habit of putting almost anything on my credit card because it is easier to do and I like seeing my points add up!
I went to see a movie and although I had about $50 in cash on me, I still put the ticket on my credit card. Afterwards I turned to my friend and told her I had no idea why I just put that onto my credit card since I had so much cash in my wallet. It seemed unreasonable and it probably was, but luckily I have found a few ways for me to keep my credit card purchases in line.
Things that may help control your credit card use:
Continually Check Account Online – This is really important. Making sure all of your purchases are correct and remembering all the purchases you have made will make all the difference when it comes to paying your bill. Adding all of your accounts to Geezeo can also help you budget and plan with your credit cards and bank account(s) information all in one location.
Pay As You Go – This has helped me out a lot. If I see too much money in my checking account I get the tendency to spend more. However, if I pay off my credit card online as I go, it takes the money from my checking and pays off my credit card account. It has been helpful to let a few transactions go by and then pay it off because then at the month you don’t have a huge bill that has piled up on you unexpectedly.
Make Sure You Spend on Top Priority Items First – An article from our partners at MainStreet.com lists several high priority items that will help you to prioritize your debt. Some of these high priority items include food, housing, child support, taxes, student loans, etc. Making sure you have enough money for these types of items will help you prioritize your spending. MainStreet.com explains why these priority items may be more important than your credit card bill.
Transfer Into Savings – When possible you should always transfer money into savings accounts. When I transfer money into my savings I try to forget about it, that way I am not tempted to spend what I have already saved. This tactic works really well for me, I use ING Direct and they make transferring money from my checking to savings extremely simple. Check out the Geezeo Marketplace for a savings account that will work great for you!
Keeping on top of your debt is important because if you don’t you will find yourself drowning in it later. With online banking and Geezeo, keeping track of where your money is going is so simple! Get advice from other people in groups such as Credit Card Info and Getting the Best Deals Around for spending/saving tactics that have worked best for them or share your ideas too! Don’t fall into the credit card trap!
Photo: Belén
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