Tips to control your credit card spending.

by debtguru

  • Keep a check register of credit card purchases. Start with an amount that you know you will have at the end of the month and don’t go over it. Use a credit card for convenience, but don’t allow yourself to “write a hot check” on the card.
  • Track your credit card on the computer. Use Microsoft Money or some other program that can track savings, debt, and credit cards. Download the transactions each night from your bank and make sure you are going to have enough money at the end of the month.
  • Lower your credit limit. Simply call your bank and tell them you are working on consolidating some of your debt and would like to lower the credit limit on your cards.
  • Use a debit card instead of a credit cards. I know a couple that has a debit account setup specifically for certian budget items like groceries. Each month they automatically deposit the budgeted amount into the debit account. This helps make sure they stay within their budget without keeping track of receipts. (Note: Some banks let you still use the card even when you are out of money, so make sure you know your banks policy.)
  • Only use cash. This may be extreme, but if your debt is out of hand any you are having trouble controlling your spending habits, this might be very worthwhile for a time.
  • Don’t take your credit cards with you. If you need to have them for an emergency, keep them in your glove compartment.

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