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Charge Account Hack
pooks | Jan 2 2007
This is pretty basic and I'm sure there are other ways of handling it, but I thought I'd toss it out here. I've been "nickel-and-diming" myself to death on my charge card. Lots of little stuff that doesn't seem like much until I see the total at the end of the month. I'm putting a halt to that, but I'm also trying to take care of it in a different way. I have several recurring charges that are small enough on their own (netflix, audible, cable, etc.) but that result in much more solid chunk when seen as the total in the "new charges" on my credit card. I've printed out a reminder 3x5 for each of them to go in my tickler file, and I'm going to try paying each one individually by check on the day it's "due" (by mailing the check to MasterCard) so that the money is coming out throughout the month instead of in one fell swoop. Also, my goal will be to be current on all recurring expenses so that the only real "new" charges are charges I made over and above the basics. Since I usually pay my card online, I think I have some old payment envelopes in the files, but when I run out of them I'll just preprint them and every time I put the reminder card in the tickler, I'll put a stamped addressed envelope with it. 10 Comments
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 I've become very check-averse, but...Submitted by Paul on January 3, 2007 - 2:38pm.
I've become very check-averse, but I see what you want to do and it makes sense. What about using a checking and savings account at the same bank? Whenever you want to "pay" your Netflix bill, transfer $18.95 from savings to checking. Same thing when the Audible bill is due, etc. You'll want to keep cushion in the checking account for cash withdrawals, debit card, checks, etc., but the savings account will be "your" money. The day you pay your credit card online, you will transfer the rest of what you owe - the new stuff - into checking to make your payment. I'm not sure if it'll work for you, but it might accomplish the tracking that you want. Each month, you'll see what you've spent over and above the normal bills when you transfer the difference. » POSTED IN:
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