If you're not disciplined, it can be hard to keep track of your credit card spending, but it's important to do so if you don't want to get into a lot of debt. If you have trouble keeping track of how much you spend on your credit cards, here are some good tips to help you get your spending under control.
Take stock and stop spending
Stop using your credit card and take a look at your current situation before you do anything else. It is important to know how much you have spent, even if you have almost no balance or a big debt. This is the first step to getting a handle on your money.
Write down what you spend.
Once you know what's going on, use your credit card like you normally do and keep an eye on how much you spend. Every time you use your credit card to buy something, write down how much you spent and what you bought. By putting your spending into different categories, you can see where you spend the most money and where you could save money.
Change accounts
If you have more than one credit card, move the balances to the cards with the lowest interest rates if you can. This will cut down on the amount of interest you have to pay on your balances.
Throw away the cards.
You can get rid of some of your cards once you have paid off some of your balances. Make sure you only have one or two credit cards. This will make it easier for you to keep track of how much you spend.
Set up a budget
Make a spending plan that you can stick to. If you look at how much money you make each month and subtract all of your essential bills and spending, you can figure out how much you have left over to spend on fun things. Make sure you stick to this budget, because it will help you spend money wisely and keep you from going into debt.
Bank online
Online banking is a great way to keep track of how much you spend on your credit card. You can easily check your balance any time of day or night, and you can see right away how much you've spent each day. You can also put your bank statements into a programme that helps you keep track of your money.
Credit cards for when things go wrong
Most people use credit cards, but you should try to keep your credit card spending to a minimum and keep the cards handy in case of an emergency. Also, try to save some money every month. This will make it less likely that you will need credit cards. Credit cards are a great way to manage your money, and you can get the most out of them if you keep track of how much you spend.
