When credit card rewards are used as a carrot to get you to spend more, you are asking for trouble. Here are a few common-sense ideas for steering clear of the perils of charge cards and rewards program spending.
Always know what is happening
Knowing how much you spend is the most significant step in making sure you do not spend too much on your charge card. You can reign in your spending if you pay very close attention to what is going on in the credit card bill. Never forget that you have to pay interest on top of what you spend.
Write it all down
Write down all your credit card spending to monitor it. If your charge card offers an online program of sorts, try that.
Spending much better with receipts
How do you keep a precise count of what you're spending? Keep the receipts! You'll need them for those who have to return something, and pocketing purchase records makes it unnecessary to write things down on the spot - because nobody likes those people, honestly.
Mint.com a good resource
You can monitor your spending at Mint.com where there are money management tools. Sites like these could be connected to your credit card, so you can monitor spending.
An additional checking
If you are having serious troubles, you can get a second checking account set up in order to work on the issue. This free checking account will be dedicated solely to paying down the card.
Regularly pay it off
The standard for paying a charge card bill is to pay once per month. However, to pay a card off more easily and minimize interest, making weekly payments where you pay off whatever was charged that week is a good idea. You'll accumulate rewards and keep away from having to pay interest.
Always know what is happening
Knowing how much you spend is the most significant step in making sure you do not spend too much on your charge card. You can reign in your spending if you pay very close attention to what is going on in the credit card bill. Never forget that you have to pay interest on top of what you spend.
Write it all down
Write down all your credit card spending to monitor it. If your charge card offers an online program of sorts, try that.
Spending much better with receipts
How do you keep a precise count of what you're spending? Keep the receipts! You'll need them for those who have to return something, and pocketing purchase records makes it unnecessary to write things down on the spot - because nobody likes those people, honestly.
Mint.com a good resource
You can monitor your spending at Mint.com where there are money management tools. Sites like these could be connected to your credit card, so you can monitor spending.
An additional checking
If you are having serious troubles, you can get a second checking account set up in order to work on the issue. This free checking account will be dedicated solely to paying down the card.
Regularly pay it off
The standard for paying a charge card bill is to pay once per month. However, to pay a card off more easily and minimize interest, making weekly payments where you pay off whatever was charged that week is a good idea. You'll accumulate rewards and keep away from having to pay interest.
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