When charge 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 staying away from the perils of charge cards and rewards program spending.
Pay attention
People always forget that they are spending money 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.
Staying away from excessive charge card rewards spending step No. 2 - Keep a log
Any person who does not like online statements should either try and start using online centers or monitor all charge card spending.
Avoiding excessive credit card rewards spending step No. 3 - Save 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 stay away from writing things down immediately.
Mint.com a good resource
Sites like Mint.com offer comprehensive cash management tools that can very easily add up and codify your charge card purchases. Link your credit card and bank to Mint.com, and log in whenever you like for an up-to-date statement.
Another checking
If charge card spending is a serious problem that you're 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.
Pay it off every week
If you need to pay off your card easily and get as little interest as possible, you can pay it off every week. Then, you can stay away from interest and still get credit card benefits for spending.
Pay attention
People always forget that they are spending money 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.
Staying away from excessive charge card rewards spending step No. 2 - Keep a log
Any person who does not like online statements should either try and start using online centers or monitor all charge card spending.
Avoiding excessive credit card rewards spending step No. 3 - Save 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 stay away from writing things down immediately.
Mint.com a good resource
Sites like Mint.com offer comprehensive cash management tools that can very easily add up and codify your charge card purchases. Link your credit card and bank to Mint.com, and log in whenever you like for an up-to-date statement.
Another checking
If charge card spending is a serious problem that you're 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.
Pay it off every week
If you need to pay off your card easily and get as little interest as possible, you can pay it off every week. Then, you can stay away from interest and still get credit card benefits for spending.
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