I just saw a discussion about credit cards

I can't so much now, as credit cards aren't accepted so much here, but I used to use them for everything. Then I would set up a direct payment for the full amount each month so I didnt pay interest. Basically I just used them as a way to keep my money in my bank account, earning interest, for a little longer. An addede bonus when using cards instead of cash is that I had a better idea of where my money was going at the end of the month as it was all recorded on the statement.

Budgeting is the key to financial health, and spreadsheets or a paper system such as you use are a vital part of keeping ahead of the game. I have all my accounts in an Excel sheet so that I know how much all my Direct Debits are going to be right at the start of every month. I use 0% credit cards to 'hold' my previous credit card debt - this means that anything I pay off those cards comes straight off the principal debt as I pay no interest at all. More about this at http://www.thecreditcruncher.com I think that as the crunch takes hold it will become more difficult to obtain credit cards (especially at 0% for transfers). I now buy NOTHING using credit cards and only use debit cards, this means that basically I only buy stuff that I can afford (how more basic can you get than that?? - but the worrying thing is that too many people spend more than they earn EVERY week of the year...)

My system is less complicated. First I downloaded, MoneyManager from http://www.codelathe.com/mmex/ then I put in all my accounts including my savings, checking, and credit card accounts. Right away, I can see how much money I have in each. Then I do not buy anything on credit until I am sure I have the money in either my savings or checking. I also have online banking so close to the date the credit card will arrive in the mail, I will transfer the money either from my savings or my checking account, and if it is a store card, I will write a check and go down to the store as soon as the credit statement comes online, which is usually a couple of days before I receive it in the mail. I have a dividend card and a points card. That means at the end of the year, I have extra on my card. Also on my dividend card, I put in so much each month and have a credit balance since it is also the one I use to pay my cell phone and I want to have a balance in case I feel the need to gab a lot. The point one I plan to either buy a piano keyboard or a deep fryer.

That is a GREAT idea! I try to pay my credit card off every month but I had never thought of that was before. We use our Shell credit card because we get rebate of 5% each time we purchase gas! That is just a great idea I am going to start using it! Thanks for sharing and God bless!

Ibasically keep track of my expenses. When I use my card, I note down my expenditures and compare them to the bill. I have given standing instruction to the bank to debit it right away. I do not roll over my payment due.