When credit card benefits are used as a carrot to get you to spend more, you are asking for trouble. Here are a few common-sense suggestions for staying away from the perils of credit cards and rewards program spending.
Pay close attention
People always forget that they are spending cash and have to pay interest for it if not paid off at the end of the month. That means the very best way to keep your credit card spending from getting out of hand is to pay very close attention to what you are spending. Knowing how much you spend is important to avoiding interest and paying it off each month. Keep track of it.
Steering clear of extreme credit card rewards spending step No. 2 - Keep a log
Everyone who does not like online statements should either try and start using online centers or monitor all credit card spending.
Receipts are the key
It is always a good idea to keep your receipts in case 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 stay away from writing things down on the spot.
Staying away from extreme charge card benefits spending step No. 4 - Mint.com
You can link your credit card to Mint.com and keep track of all spending at it. The site offers cash management tools and budgeting tools to help you monitor spending.
Another checking
If credit card spending is a serious problem that you are working on, set up a second checking account - ideally, a free checking account - that is dedicated to paying down the card. Only do this with the second account and it will help.
Do not wait till monthly payment
Some people like to pay their charge 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 rewards while avoiding extra interest.
Pay close attention
People always forget that they are spending cash and have to pay interest for it if not paid off at the end of the month. That means the very best way to keep your credit card spending from getting out of hand is to pay very close attention to what you are spending. Knowing how much you spend is important to avoiding interest and paying it off each month. Keep track of it.
Steering clear of extreme credit card rewards spending step No. 2 - Keep a log
Everyone who does not like online statements should either try and start using online centers or monitor all credit card spending.
Receipts are the key
It is always a good idea to keep your receipts in case 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 stay away from writing things down on the spot.
Staying away from extreme charge card benefits spending step No. 4 - Mint.com
You can link your credit card to Mint.com and keep track of all spending at it. The site offers cash management tools and budgeting tools to help you monitor spending.
Another checking
If credit card spending is a serious problem that you are working on, set up a second checking account - ideally, a free checking account - that is dedicated to paying down the card. Only do this with the second account and it will help.
Do not wait till monthly payment
Some people like to pay their charge 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 rewards while avoiding extra interest.
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