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Mid month update

June 18th, 2014 at 04:31 am

I'd really like to get in the habit of using my credit card for everything and then paying it off in full at the end of the month. I'm hesitant to do that because I always hear how you end up spending much more when you use credit, but as long as I can cut myself off when I hit my monthly limit, it shouldn't matter. I can pay my savings first like always, and then verify what is left over. Technically whatever is left over can be spent in credit and be paid off at the end of the month.

I am still on track to meet my financial goals for the year, if all continues as planned. Things are starting to settle down at home, and that is reflected in my finances as well.

4.2 more days of school until summer vacation!!!

4 Responses to “Mid month update”

  1. MonkeyMama Says:

    I wouldn't worry about it. We have always always always treated our credit cards like they are debit cards. *shrugs* I find nothing in the least enticing about running up a balance on a credit card. We pay ourselves first, which I think is a bigger indicator of our spending than anything else is. We over-zealously save first, and have always made do with the rest. The method of payment has absolutely nothing to do with that, for us.

  2. creditcardfree Says:

    I bet you would do just fine with the credit card spending. It is similar to what we are doing to get rewards from credit cards. I actually pay the balance twice per month, regardless of due date, because this is how often my husband is paid.

  3. CB in the City Says:

    I have been doing just that for years now. I don't really feel any temptation to overspend -- since it's pretty much the only way I pay, I think of it the same way other people think about cash, I guess. I check the amount online every once in a while to make sure I haven't gone overboard, but some people keep a running tab and cut themselves off when it reaches a certain level.

    When you KNOW you will pay it all off at the end of the month, you are mindful of your spending.

  4. snafu Says:

    We too use CCs for rewards, convenience and the fact that they make it easy for me to tally how much we spend in each category since I really try to stay within limits set back in January. I'm way off in gas and food as prices are far above where they were back in November/December when I was working out sums spent + 4%. Our government was nattering that inflation was slightly over 2%...not by my math, not by my categories like food, utilities [heat, electric, water, sewerage, trash, auto operations & maintenance, property taxes, condo fees, electronics, clothes and shoes.

    You might check out some of the benefits/promotions on various cards. CCF and CeeJay do a remarkable job of capturing benefits and making certain cards are cancelled before annual fees get tacked on. You could try it as an experiment for 3 months July - September, pay yourself 1st as always and charge to capture the bet benefits if your figures support the CC demands.

    What's your plan for summer"?

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