This seemed like a better idea when I read about it a few weeks ago. We are three days into the month of June and I am already struggling without my beloved AMEX. :( I am not close to being out of cash by any means, I am just not used to carrying cash. Resisting the urge to pull out my credit card for things like gas and groceries has been tough because I usually pay for these things on credit without a second thought. I earn 5% back on gas and 2% back on groceries so it makes sense. Why not earn a little money back on something you have to purchase anyway?
At any rate, this is a money-saving theory I read about here and here and I am curious to see how much truth there is to it for someone who is paid once a month. Yes, you heard correctly. I am paid once a month. I get a big, fat check on the last day of the month and after paying bills and putting money into my IRA and savings account there never seems to be much left by day two of the month. This is where my credit card comes into play.
Now, I never carry a balance on my credit card which could be the reason I never have oodles of dollars left to spend frivolously, but there has to be a way to keep the balance more at bay so that I can spend more money on fun things. I will post throughout the month with updates, obstacles and (hopefully) successes. We'll see how much of a difference it makes come bill paying time... 27 days from now.
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