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nixy
LIF Adult
Member since 9/06 1575 total posts
Name:
K
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Spinoff to weekly allowance
for those of you that put groceries and gas and the like on your credit card how do you monitor it? I would like to start to do this but my worry is, although my intention is to pay it off in full every month, that I will have a hard time splitting the budget btwn cash and CC expenses and end up carrying a balance.
if that makes any sense.
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Posted 1/11/07 12:37 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Spinoff to weekly allowance
I don't do this, but I guess you would just have to make sure to pay it off each month.
I hate credit cards, I don't use them anymore.
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| Posted 1/11/07 12:38 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: Spinoff to weekly allowance
My mom always makes an entry in her checkbook each time she makes a charge so she knows that she has enough in her account when the bill comes.
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| Posted 1/11/07 12:40 PM |
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Kissy331
My two miracles!
Member since 5/06 17826 total posts
Name:
Kristen
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Re: Spinoff to weekly allowance
I know what it costs me every week to fill my tank. Groceries cost about $75 a week. I budget myself out so that I have enough money in our checking account to cover the CC bill. I never leave a balance. If we purchase something jointly & place it on the CC, we make sure we have the $$ to back it up before we buy it.
If you are not careful & know your limitations, you could end up with a balance that is so high you can't pay it at the end of the month!
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| Posted 1/11/07 12:41 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Spinoff to weekly allowance
I use Amex for everything. I pay it off every month.
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| Posted 1/11/07 12:43 PM |
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nixy
LIF Adult
Member since 9/06 1575 total posts
Name:
K
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Re: Spinoff to weekly allowance
Posted by Kissy331
If you are not careful & know your limitations, you could end up with a balance that is so high you can't pay it at the end of the month!
This is my worry! I am not sure if it is really worth all of the extra time and effort to do it this way....at least for me.
Message edited 1/11/2007 12:53:56 PM.
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| Posted 1/11/07 12:53 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Spinoff to weekly allowance
DW and I actually use our CCs for almost everything, to PREVENT overspending. At the end of the month (or sooner, since we check on-line), we have a complete history of what we spent. With cash, it burns a hole in my pocket, and I have no idea where it went. I also don't spend more money than I can cover. Unfortunately, it's a very disciplined approach, and doesn't work for a lot of people.
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| Posted 1/11/07 12:56 PM |
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azoodie
Member since 8/05 8377 total posts
Name:
Team SEXY BACK
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Re: Spinoff to weekly allowance
We only spend 50 dollars a week on groceries. If we go over we put things back that we don't need so we know exactly how much is spent on groceries each month.
Our gas is also the same every month so that is budgeted in.
We pretty much have a set budget for everything that is charged: Gas, groceries, entertainment, dog expenses, gifts/events, misc charges
Therefore we KNOW how much the credit card should be each month. If it is over, there is usually a reason for it and it is accounted for but it's always accounted for. We always pay off our credit cards in full. We do love using it though cause we love our rewards. It also helps us keep better track of our expenses.
Message edited 1/11/2007 1:09:32 PM.
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| Posted 1/11/07 1:08 PM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Spinoff to weekly allowance
Posted by GoldenRod
DW and I actually use our CCs for almost everything, to PREVENT overspending. At the end of the month (or sooner, since we check on-line), we have a complete history of what we spent. With cash, it burns a hole in my pocket, and I have no idea where it went. I also don't spend more money than I can cover. Unfortunately, it's a very disciplined approach, and doesn't work for a lot of people.
DH and I are pretty much the same.
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| Posted 1/11/07 2:06 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Spinoff to weekly allowance
Posted by neenie
Posted by GoldenRod
DW and I actually use our CCs for almost everything, to PREVENT overspending. At the end of the month (or sooner, since we check on-line), we have a complete history of what we spent. With cash, it burns a hole in my pocket, and I have no idea where it went. I also don't spend more money than I can cover. Unfortunately, it's a very disciplined approach, and doesn't work for a lot of people.
DH and I are pretty much the same.
Same here. We never have a problem paying the CC bills in full each month, so it's not an issue.
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| Posted 1/11/07 2:07 PM |
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cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
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Re: Spinoff to weekly allowance
Posted by nov04libride
Posted by neenie
Posted by GoldenRod
DW and I actually use our CCs for almost everything, to PREVENT overspending. At the end of the month (or sooner, since we check on-line), we have a complete history of what we spent. With cash, it burns a hole in my pocket, and I have no idea where it went. I also don't spend more money than I can cover. Unfortunately, it's a very disciplined approach, and doesn't work for a lot of people.
DH and I are pretty much the same.
Same here. We never have a problem paying the CC bills in full each month, so it's not an issue.
us too!!!
I NEVER carry cash because it just does not last in my wallet!
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| Posted 1/11/07 2:12 PM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Spinoff to weekly allowance
Posted by Blu-ize
I use Amex for everything. I pay it off every month.
Us too. Plus, we get membership rewards points! 
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| Posted 1/11/07 2:33 PM |
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