An Item A Week: Paying off Our Credit Cards each purchase at a time!!!

misslauren

Hi Everyone!

For those who have been keeping track I've come across the idea that instead of focusing on the $$$ I'm paying off my credit cards, to start paying off the items that were actually charged.

I think this is a much better way to really see where the money went, and help curb further spending in the process, particularly on taxis and food in my case! :eek:

So if anyone would like to join me, just do the following:

*Hopefully you've kept all your statements, but if your like me you may need to back order some.

*Take your current balance and take away current debits for the current period (yet to be billed... if your still using your card! :rolleyes: )

*Then simply get out a calculator, subtract the debits from each statement until you get a nil figure. On the last statement find the difference between the months debits and your current balance, and that is what you've paid off. Then you'll know what items your up to!!

I have just paid off three lots of junk food from work and a taxi ride.... from April 2009

Everyone is welcome!

misslauren

So, just for example:

Current Balance: $4,050.

- Debits yet to be billed ($50) = $4,000

- Each statements debits ($500, $500, etc).

Then for the last statement, look at the total debits (say, $500). If you were had $300 balance left to take off, that means $200 of that statement is already paid.

Which means you can get out the lovely red pen and get rid of $200 worth of purchases...

[STRIKE]Aston Martin
Lear Jet
Harry Winston Ring[/STRIKE]

(In my dreams )
:rotfl:

P.S. Feel free to pay off as many items as you'd like each week, or day. The main focus is the items your paying off though