Since I paid off my credit cards a few years, I make it a point to pay off the balance every month now. The money saved in interest costs is absolutely staggering. I can't even think back to those times without wanting to cry. :shake: Anyone else have this strategy?
That is what my mom taught me to do way back when I got my very first credit card. Only put on it what you know you can pay for at the end of the month. Here's a tip. If you are trying to build credit but are not sure you will be able to pay off everything, charge only a necessity like gas to your card and put some cash in an envelope every time you charge. At the end of the month you should have enough in the envelope to payoff the bill and will be successfully building good credit.
I have just unearthed myself from a massive credit card debt left to me by my ex-husband. And just yesterday I signed up for my first credit card on my own (to restablish good credit). I will definately be paying off my balance ever month.
Good for you getting your own card! That's fabulous, and yes, paying it off each month is what I had to do to make sure it didn't get run up again. That's a place I *never* want to return to! :shake:
That's for sure Katharina! I would be insane to let debt pile up again. I feel rich just having no debt for the first time in a decade!
I relate to that 100%. I still catch myself in the old mindset once in a while like thinking I can't afford something, usually in the grocery store. It would indeed be insane to put myself back into that position.
Being there has made me really frugal though, and that is a good thing. I know I won't get there again. I just got my first credit card bill and have filled out the check for it. I plan on signing up for online banking and bill pay to pay my cards soon.
That's definitely one of the perks, yes. If I stop and ask myself if I *really* want or need -fill in whatever the item is-, it's a lot easier now to realize that nope, I sure don't.
I have a card that I use just for reward points and I pay for my purchases on it either weekly or every time I use it. It's not uncommon for me to have sent the money to the card before the charge even posts.
That's a really good way to stay ahead of debt, so good for you! I've not paid ahead like that yet, but I make sure to pay it off each month. It has made a huge difference!
