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Controlled Spending On Your Credit Card

George Sterling | Thursday, October 4th, 2012

Whenever its pay day, all of us start thinking about the things we want to get. A lot of us also tend to go overboard and buy expensive things on our credit card without realizing that we are spending more than we actually earn.

Buying things on your credit card can be overwhelming because money doesn’t escape your pocket right away but it could also lead to a lot of trouble in the long run because if you fail to make your credit card payments, you will end up in piles of debt.

Many people think that using credit cards will inevitably lead them overburdened under piles of debt. This is not true. If you spend wisely on your credit card, you will not face any kind of trouble in the long run.

The first thing to focus on when it comes to spending is controlled spending. You should be wise and carefully analyze the things you want and how many of those things you can actually afford. If there are three things that you have to buy and all of them are expensive, don’t make the mistake of buying them altogether. Instead, wait for another month or two to buy the third thing if you have already purchased the first two things on your list.

Another thing you can do to make sure you don’t overspend using your credit card is to list down your expenses. Many times, we think we need to get some things but in reality, we don’t. You will realize this once you write the things you want on a list. If you don’t have the money to buy something that is not that important, you should cross that out of your list. Don’t make the mistake of buying it even when you know you can’t afford it.

You should also make it a rule to pay a little more than your minimum credit card balance. This is the smartest thing any card holder can do as it increases your reputation with the bank.

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