I see everyone saying use cash however we do just the opposite. We use our M&T Bank rewards card for every purchase we can including groceries, dinners out, gas, tuition and vacations. We then subtract it from our checkbook as if we have used a debit card and then pay off that credit card at the end of each month. You don't pay interest as long as you pay by the due date and you earn points that you can trade in for gift cards etc. You do have to be disciplined to use this method!!
Please note these are member-submitted secrets and are not reviewed by SparkPeople's health experts for accuracy. If you feel a secret is inappropriate, please click Report Inappropriate Secret and our staff will review it.
SparkPeople advertisers help keep the site free! Learn more
I've always used my credit cards like debit cards. If I don't have the money, I don't charge it. Credit cards have other benefits such as cash back and extra protection, but they don't have to be used to rack up debt. Doing this has kept me free of credit card debt.
I have about $40,000 in credit card debt, yet I was still using my credit cards. I know- not very smart. This week, I decided to get smart. I shredded all of my credit cards! It felt great and now I know that I am literally unable to add to my credit card debt! I will continue to pay my bills on time and try to pay more than the minimum due. 410
When you are using your credit card to purchase things that you want, which are not necessarily things that you need, don't spent beyond what you can afford to withdraw from your savings account. Then make sure you pay the complete credit card bill when its due.306
SparkPeople, SparkCoach, SparkPages, SparkPoints, SparkTeams, SparkDiet, SparkAmerica, SparkRecipes, DailySpark, and other marks are trademarks of SparkPeople, Inc. All Rights Reserved.
SPARKPEOPLE is a registered trademark of SparkPeople, Inc. in the United States, European Union, Canada, and Australia. All rights reserved.