Hello Credit Card!

A few months ago I banished my credit card to a drawer as I wasn’t being a responsible user. Last month after reading a fantastic post on How to Stuff Your Pig I decided to give this relationship another go.

November was my month of testing the relationship and it was pretty good. I am going to continue using my credit card for the month of December but I’ve got some rules:

  • At the beginning of the month allocate funds for each week
    • If there aren’t a lot of planned things stick some money in a miscellaneous line.
  • Review the accounts weekly
    • Note to future self: You feel awesome after doing this! Even when you’re tired and dreading it because you think you’ve over spent. Looking at the accounts and figuring out your next steps always makes you feel powerful and in control of your finances.
  • Keep transferring into the overage savings account
    • Note to future self: Only through knowing what you spent vs. what you thought you spent will you be able to use this overage account. See note above :).  Remember how great it felt to see those savings pile up and  know that you could use it on anything?
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7 thoughts on “Hello Credit Card!

  1. If you would like another exercise in getting used to using cards, try getting a debit card with a fixed amount in an account. I did this when I first started working at 16 and I got used to the fact that I only have $XXXX amount in my account. I generally had/have ~$1000 in this account.

    If I went crazy and had a shopping spree, I could only spend as much as was on the card. The good thing about these cards is that they are actually using money that I already have earned so I am A)not borrowing money and B)not able to be charged interest. It taught me discipline because I learned how to try to save as much as possible in this account throughout the month and watch my swipes.

    I do like that you plan on checking on your accounts weekly though. That is solid advice and a good habit to have. I would stick the final numbers in a spreadsheet to watch your spending to see if you are getting better or not.

    -Brantley

    Liked by 1 person

    1. That’s a great middle step that I skipped. If I have to do it again I’ll definitely do that. When I started I was only transferring the amount I budgeted for the week to my chequeing account. To go from that system to using.my credit card with loads of available credit is a big jump.

      Liked by 1 person

    1. So far so good :). I’ve been checking often to make sure that the pending charges are being captured in my budget. It looks like I may be able to put some money in the overage account.
      I’m excited as this is how I used to use my card and it’s such a great feeling to be back in control of the card

      Liked by 1 person

  2. Pingback: Credit Card Points – Saving Without Scrimping

  3. Pingback: Assessing the Month – Saving Without Scrimping

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