Paying off credit cards transactions 1 by 1!

Penguin8410 wrote: »

I've just come up with a way of paying off my credit card debt which i feel makes more sense to me and makes me more focused. I'm sure others are doing it too but i thought i would post just incase it helps someone else!


I've made a spreadsheet and written down every transaction that makes up the amount I owe on my barclaycard. I've categorised these into food, shopping, nails (i'm a technician), outings, petrol & adhoc.


I tend to make the set payment i can and then as I don't have enough money to make any other significant payments throughout the month I haven't been bothering. Using this spreadsheet though I can pick a transaction and then pay that specific transaction off. So i've only got £8.43 I could spare until payday but I looked and paid off costa @ £3.40 and Amazon @ £4.99. That's then 2 transactions gone off my spreadsheet and I feel like i'm actually paying off the specific things i've spent the money on rather than chunks of money being thrown at it as a whole.


I've then got another page on the spreadsheet where I'm moving the transactions too so I can see how much I've paid off.


This might or might not work for you, but I just wanted something to help me visualise where the smaller payments are going too rather then think oh £10 is nothing off £6k


Hope this might help someone!