Another Tip to Control Holiday Spending

20 November 2007, 3:53 UhrMoney MgtSingle Ma

My checking account is my voice of reason.

I have a system that subtracts credit purchases from the account balance. If cash is available, I swipe that plastic ’til my heart’s content. But when cash gets below three digits, I pull in the reigns. By doing this, I purposely treat my credit card like a debit card - although the cash hasn’t left my possession. The intent is to always have enough cash to pay the bill in full when the statement closes.

Fabulous Financial Tip:

Never charge more than you can afford to pay in full when the statement closes. Please note, this tip is based on current available cash, not cash that you expect to have at a future date.

I’m off to hit the Interstate for a destination filled with love, laughter, FOOD, and holiday cheer. I’ll catch y’all on the flip side of Sunday. Until then, please check out the Carnival of Debt Reduction. It’s a nice reminder to keep the credit card spending in check.

I hope you all have a Happy Thanksgiving!

~*~*~*~*~*~
Work to achieve, not to acquire.
And as always, BE FABULOUS!

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8 comments:

  1. julie, 20 November 2007, 7:36

    What is the system that subtracts credit purchases from your checking balance? I need something like that myself.

     
  2. Moneymonk, 20 November 2007, 8:12

    ohhh la la nice site. I love it

     
  3. The Diva's Thoughts, 20 November 2007, 11:37

    I love your new layout!!! Great advice btw.

     
  4. Tired of being broke, 21 November 2007, 18:49

    Like the new lay out.

    Happy and blessed thanksgiving.

     
  5. Barry Hughes, 24 November 2007, 20:50

    I had to just cut my card up! If I don’t have it in my checking account then I can’t spend it. My debit card is my new Credit Card. Even with that I have to always be careful.

     
  6. Colleen, 27 November 2007, 5:22

    I would like to know which program you use to control your spending. I believe I need it!

     
  7. Single Ma..., 29 November 2007, 18:12

    @ julie and colleen - I use a combination of MS Money and my trusty Excel spreadsheet with formulas to keep me on my toes.

     
  8. Caron, 24 December 2007, 9:31

    Hi,

    Holiday shopping implies there can be lots of items to shop for and the total price could add up to a lump sum amount. I find most people going for credit cards or debit cards as at times they don’t have the cash at hand to do such shopping on a large scale. Well, whether you use a credit card or debit card, you need to protect the CVV printed on the card itself.

    I’ve shared by thoughts on how safe a credit/debit card is, at http://www.ourcommunitypower.org/blog/how-safe-is-your-creditdebit-card/

    Hope you find it interesting enough!

     

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