When credit card rewards are used as a carrot to get you to spend more, you're asking for trouble. Here are some common-sense suggestions for steering clear of the perils of charge cards and benefits program spending.
Always know what is going on
Right off the bat, the most logical way to make sure that you aren't letting your charge card spending run amok is to reign in the spending and pay attention to what is going on your credit 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 are spending and how much you owe are imperative.
Monitor spending
Everyone who does not like online statements should either try and start using online centers or keep track of all charge card spending.
Spending better with receipts
How do you keep an accurate count of what you are spending? Keep the receipts! You'll need them if you 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 source
Websites like Mint.com offer comprehensive money management tools that can effortlessly add up and codify your credit card purchases. Link your charge card and bank to Mint.com, and log in whenever you like for an up-to-date statement.
A second account
If you are having severe 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.
Pay it off every week
A lot of people like to pay their credit card bill every 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 would like on the card and still get benefits while avoiding extra interest.
Always know what is going on
Right off the bat, the most logical way to make sure that you aren't letting your charge card spending run amok is to reign in the spending and pay attention to what is going on your credit 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 are spending and how much you owe are imperative.
Monitor spending
Everyone who does not like online statements should either try and start using online centers or keep track of all charge card spending.
Spending better with receipts
How do you keep an accurate count of what you are spending? Keep the receipts! You'll need them if you 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 source
Websites like Mint.com offer comprehensive money management tools that can effortlessly add up and codify your credit card purchases. Link your charge card and bank to Mint.com, and log in whenever you like for an up-to-date statement.
A second account
If you are having severe 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.
Pay it off every week
A lot of people like to pay their credit card bill every 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 would like on the card and still get benefits while avoiding extra interest.