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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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 Perhaps you could set up...Submitted by genagtd on January 3, 2007 - 11:48pm.
Berko;7487 wrote:
Perhaps you could set up an intermediary? Maybe a savings account or second checking account that you could make transfers into and then make your once per month payment to MC? Something to consider along these lines: set up an online account with ING Direct (or institution of your choice). That way, you can make the transfers online whenever you wanted and maybe gain a bit of interest along the way. I do something similar with the payroll taxes at my company. After printing the payroll checks, I move enough money from our operating account to a savings account to cover what was withheld from the checks plus the company portion. When it is time to deposit those taxes, I transfer the lump sum back to the operating account. We stumbled on this hack as a way to make sure that we weren't surprised when the taxes were due -- this way, the money comes out in dribbles. Gena » POSTED IN:
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