How to budget money with your credit card
Your monthly credit card statement can sometimes read like a rap sheet of shame – listing all your impromptu purchases and being a reminder of the things you bought but didn’t really need. Once you’ve got over any disappointment at your lack of self-control, that statement is actually as a really useful tool in being able to assess, budget and plan your spending.
With any sort of budget, you need to know how much you have to spend – so work out what your monthly income is. Grab your credit card last statement and start grouping your purchases – food, fuel, clothes, fun stuff. Tot up what you’re spending on each and deduct this from your total income.
If the number that’s left is in plus figures – good job – you’re living within your means. If it comes back as a minus number – well, then you should definitely pay attention. But either way, it’s always good to do a bit of housekeeping and cut back – what you save could be put towards a new car, an amazing holiday or simply some brand new shoes.