One of the advantages of having a benefits program tied to your credit card is all the stuff you can earn, from goodies and airline miles to money back. However, boosting your charge card spending to be able to generate these awards is a double-edged sword that can eviscerate your budget. Here's how to avoid the perils of extreme charge card benefits spending.
Pay close attention
Right off the bat, the most logical way to ensure that you aren't letting your credit card spending run amok is to reign in the spending and pay attention to what's going on your charge card bill. Waving the magic plastic doesn't mean that you won't be paying with interest in the end - or in full. Knowing how much you're spending and how much you owe are imperative.
Write it all down
If you have trouble keeping a mental tally of your credit card spending, write everything down. This is for those who do not like to view an online statement, but entering the 21st century is really a good idea.
Spending better with receipts
It is always a good idea to keep your receipts in the event you have to return something, but it is even better to keep them so you can keep good track of all your spending. You can keep away from writing things down on the spot.
Steering clear of extreme credit card benefits spending step No. 4 - Mint.com
You can monitor your spending at Mint.com where there are money management tools. Sites like these can be connected to your credit card, so you can keep track of spending.
Checking account to help
In case you are having serious difficulties, you can get a second checking account set up to be able to work on the problem. This free checking account will be dedicated solely to paying down the card.
Pay it off every week
A lot of people like to pay their credit card bill each month, but it is much better if you can pay it off every week. It is a good idea to make weekly payments so you can spend as much as you need on the card and still get rewards while staying away from additional interest.
Pay close attention
Right off the bat, the most logical way to ensure that you aren't letting your credit card spending run amok is to reign in the spending and pay attention to what's going on your charge card bill. Waving the magic plastic doesn't mean that you won't be paying with interest in the end - or in full. Knowing how much you're spending and how much you owe are imperative.
Write it all down
If you have trouble keeping a mental tally of your credit card spending, write everything down. This is for those who do not like to view an online statement, but entering the 21st century is really a good idea.
Spending better with receipts
It is always a good idea to keep your receipts in the event you have to return something, but it is even better to keep them so you can keep good track of all your spending. You can keep away from writing things down on the spot.
Steering clear of extreme credit card benefits spending step No. 4 - Mint.com
You can monitor your spending at Mint.com where there are money management tools. Sites like these can be connected to your credit card, so you can keep track of spending.
Checking account to help
In case you are having serious difficulties, you can get a second checking account set up to be able to work on the problem. This free checking account will be dedicated solely to paying down the card.
Pay it off every week
A lot of people like to pay their credit card bill each month, but it is much better if you can pay it off every week. It is a good idea to make weekly payments so you can spend as much as you need on the card and still get rewards while staying away from additional interest.
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