Paying Your Credit Card Bill Every Week
A New Relationship
Imagine a whole new relationship with your credit card! On Sunday, you make some purchases. On Monday, you are at work all day, so there’s no activity. On Tuesday, you need to go to the grocery store, more purchases. Friday night you go out and have some fun. On Saturday, you total up all that you charged from Monday through Saturday, and you pay it. Your credit card balance returns to the amount that it was when the week started. Let’s talk about what you just accomplished:
You paid for all your recent charges. If you behave like this from now on, you’ll NEVER add to the your credit card debt again. Wow!!!!
You most likely covered your minimum payment. Most likely, if you do this, you’ll meet whatever minimum payment is required by the credit card company!
You’ll likely spend less. By doing this each week, you’ll receive pretty immediate feedback about your spending. This may have the added benefit of slowing your spending down a bit!
Paying your credit card bill each week is a simple, yet powerful behavior. I’d dare to say that it could be a life-enhancing behavior.
Pro-tip
Turbo-charge this behavior with the following pro-tip: Categorize your spending when you do this each week to see where your money is going. How much did you spend on ride-share, eating out, groceries and entertainment. The results might surprise you! These simple techniques are very easy to implement, but extraordinarily powerful!
Try them and let me know how they are working for you!
Until we meet again,
be Financially well,
wellbeingGrant