November was a big spending month for us. We bought Christmas presents, birthday presents for our son, our car needed some repairs and its normal inspection, and I did lots of freezer cooking and pantry-stocking, and getting last-minute baby stuff.
I put most of these purchases on our credit card so we’d get some cash back.
It’s all well and good if you keep a close handle on your spending, but it is so easy to get carried away! I truly do think that buying something with a credit card feels different than using debit, and those methods are way different than paying in physical cash.
Fortunately we are able to pay our bill in full, but still! I need to be more mindful of what I’m doing with that credit card.
If I’m going to continue using that card, then I need to immediately transfer the purchase amount from my checking to the “reserve” section of our savings, so that when the bill is due, I have all of the money set aside for the credit card bill. It will help me not overspend for that month, since the money won’t be available in our checking account anymore.
I did that somewhat, but not for every purchase for whatever reason.
It’s kind of a bummer to see that I’m not as disciplined as I thought, but it’s a good lesson for me to remember: Don’t get carried away with credit!
Can anyone relate?