What's monthly credit card charge??

[Enuff2Eat]

I tried so hard to pay off my credit card at the end of the month but it does seems harder and harder everyday since we tends to spend too much and it's extremely easy to swipe that card then worry about it later. Our expenses increase significantly because the kids are getting older too. Oh yeah, last month was xmas... Why can't all holidays be like Thanksgiving where you get to see families and friends instead of buying junks that noone needs.


What's monthly credit card charge?? Our is around ~$1500.00-$2000.00

enuff

 

[kumquat]

Between $0 and $100 unless we go on a trip which would mean $1K - $5K.

 

[easysurfer]

I pay off my CC balance each month. I know that some months (such as Dec. for Christmas) would be more than others, but I get in the mindset to treat my credit card spending like cash. For me, it comes down to the "B-word" (as in budget). That way, whether I spend with cash out of my wallet, or check or credit card, I know I'll record the amount spent no matter how i paid. That way, using a credit card becomes a convenience rather than painful come bill payment time.

 

[scrabbler1]

I always pay my CC in full every month no matter how high the amount is. I rarely use mine (only 5 times in 2009) so most of the time I don't even receive a bill.

 

[73ss454]

I don't owe anyone a dime and plan on keeping it that way. I let one of my CC's expire this month for non use.

Only use a debit card, if I can't afford it I don't buy it.

 

[scrabbler1]

I don't owe anyone a dime and plan on keeping it that way. I let one of my CC's expire this month for non use.

Only use a debit card, if I can't afford it I don't buy it.

I had two CCs tell me in 2008 or 2009 that they were going to cancel my card for nonuse. I was delighted because I could toss out all the paperwork (i.e. change in terms, privacy statement) I had held over the years. I guess with the credit crunch the issuers were looking to unload those who never used them. One card, Discover, I got in 1990 so I could use it at Sears because way back then they did not take the major CCs such as Visa or Mastercard. Sears soon began taking them and I never used Discover in 18 years.

The CC I use has a branch of the issuing bank just down the street from where I live so I can walk there to pay my bill in person. This prevents any chance of problems with the mail or other shenanigans.

 

[Alan]

What's monthly credit card charge?? Our is around ~$1500.00-$2000.00
enuff

Our monthly average for 2009 was $2,860 but we always pay off in full and it is always in line with our budget. If you find yourself often unable to pay off in full then you need to switch to cash or Debit card. BUT, be careful with a debit card as you'll easy find yourself over-drawing and getting hit with horrendous overdraft fees.

 

[mews]

I'd say use cash where possible.

Seeing the green stuff leave really slows me down!

Also, do a 3-4 months of writing down everything you buy, and the amounts.

You may be able to find and plug some of the money leaks when you see them on paper (or on an Excel spreadsheet.)

ta,
mew

 

[LOL!]

Usually between $5,000 and $6,000. Januarys are usually huge because we put lots of charitable contributions on them on 12/31 because we found that gives us the best record-keeping.

We don't use cash for anything if we can help it ... always a credit card.

 

[harley]

I'm with Alan and LOL!. We have ~$3K per month on our Discover card, but we charge almost everything we do on it, from food to our electric and cable/internet bills, all our insurance bills (except health), and everything else I can manage. We pay it off every month in full, haven't had an interest charge or missed payment in I don't know how long. We get cashback on it, which we use to get discounted restaurant cards mostly. It's a good deal, and I'm going to ride it as long as it's convenient for me. If they change the rules, out come Messers Washington, Lincoln, Jackson, et al.

 

[av8er]

$0-100/month...and we pay the balance off in full every month. We use cash for just about everything, and we've found over the years that it forces us to spend less/pay more attention to where we spend our money.

 

[calmloki]

Our monthly average for 2009 was $2,860 but we always pay off in full and it is always in line with our budget. If you find yourself often unable to pay off in full then you need to switch to cash or Debit card. BUT, be careful with a debit card as you'll easy find yourself over-drawing and getting hit with horrendous overdraft fees.

BUT, be careful with a debit card as you'll easy find yourself over-drawing and getting hit with horrendous overdraft fees.

Just 'cause that's a really important point. If plastic is too easy its time to go back to checks or cash. I know I tend not to pay sufficient attention when using plastic - need/want it, buy it. Cash, especially larger bills, stays stuck in my wallet - really have to consider spending them.

That said, we pay our PenFed card in full each month - several silly insurance companies allow me to pay with a charge card, so it being the end of the year and a bunch of insurance annual bills being due I racked up over $10k on the card - nearly all after Dec 17th, thinking that the cutoff date will have PenFed billing us Feb 10 but uncle Sam allowing the expense last year. Should also mean $125 in PenFed rebates. If there weren't a stack of Amazon charges that SOMEONE in the house seems to have made last month we would be getting rich by spending so much!!

 

[aaronc879]

I haven't used a credit card since I was 22 years old and never will again. As far as the holidays go, no one forces you to buy people stuff they don't need or that you can't afford.

 

[yakers]

Our two cards add up to $3K to $4K each month, paid off each month. We like the cash back on the cards. Appreciate the mediation the cards provide if there are problems with stores or service providers.

 

[Katsmeow]

We put all spending we can on the Amex Blue Cash card for the cashback. We even pay the cell phone bill with it. However, it is paid in full each month. In the budget program I use (YNAB) credit card spending is immediately deducted from available cash so I know immediately how much I've spent and have no danger of spending mroe than I planned.

Enuff2Eat - I highly recommend keeping a budget and recording credit expenditures as you make them. To make certain you are only spending money that you have set aside each credit card expenditure as it is made so the money is there to pay it. If you don't have the money to do that then don't make the credit card expenditure. Don't try to live on the float as it can really bite you. At one time I had a great deal of credit card debt and had to spend a lot of time paying it off. I do regularly use my card now but only on things I could pay cash for if I chose to do so.

 

[W2R]

I don't owe anyone a dime and plan on keeping it that way. I let one of my CC's expire this month for non use.

Only use a debit card, if I can't afford it I don't buy it.

Like 7322454, my monthly credit card expenses are... $0.00 because I do not use credit cards. I have used just a debit card for the past 10+ years. There are no fees at all, and in all this time I never once had an overdraft fee or didn't know about how much I had in my checking account. That's just the way I am. Often I use it as an ATM card, doublecheck the balance, take out cash, and pay for small purchases in cash.

 

[bbbamI]

nm

 

[Bikerdude]

I try to charge as much (of every day expenses) as I can each month. I always pay the balance and never incur a finance charge. I benefit greatly from the rewards and other card perks. I probably average $1500 to $2000 per month. I would never consider using cash.

 

[JustNtime]

I try to charge as much (of every day expenses) as I can each month. I always pay the balance and never incur a finance charge. I benefit greatly from the rewards and other card perks. I probably average $1500 to $2000 per month. I would never consider using cash.

Ditto... Of course, the actual amount varies greatly depending on what I buy.

There is an exception and that is zero percent interest credit card debt. I started the century with NO debt and NO credit card balances that weren't paid in full every month. In preparation for retirement in 2002, I quickly amassed zero percent CC debt of six figures buying savings bonds and doing balance transfers into zero percent offers with NO (or very low) transaction fees. As we start a new decade, most of that debt is gone and my zero percent interest CC debt will drop into 4 digits next month with only one 'zero percent for the life of the loan' remaining( and being repaid at ~1 percent a month). It's a little sad, but I won't really miss the high flying 6 figure CC debt days and all the tracking and hassles hunting offers when expiration dates neared. Once I retired and became busy doing nothing all day, I found it really wasn't worth the effort, especially with dropping interest rates on money markets and CDs. Soo, so long CC debt and hello almost debt free again...

 

[Goonie]

I use a 'rewards' VISA and use it for most purchases...usually totaling $500 or less per month....and it gets paid off every month regardless of the balance due!!! This month's balance (Dec/Jan) is currently just a tad above $1600 due to tickets for several theatrical/musical events for my Mom and I this year ($850)....and last week's hobby shop blitz with my homeys ($525)!!!

Almost all vacation/trip spending is done via CC, only a very small amount of cash is spent, and that is mostly for stuff like ice cream and MickeyD's.

All recurring monthly bills (utilities, ins., etc.) are setup directly with the payee for auto-payment. And I only have to write 2 checks per year...one to an organization I belong to, for membership fees, that doesn't take CC's, and one to the DMV for license plate renewal. I also end up writing 2 or 3 checks per year at my friend's hobby shop, because he doesn't accept CC's either, and I usually don't carry enough cash in my wallet to satisfy my hobby addiction!

 

[clifp]

I tried so hard to pay off my credit card at the end of the month but it does seems harder and harder everyday since we tends to spend too much and it's extremely easy to swipe that card then worry about it later. Our expenses increase significantly because the kids are getting older too. Oh yeah, last month was xmas... Why can't all holidays be like Thanksgiving where you get to see families and friends instead of buying junks that noone needs.


What's monthly credit card charge?? Our is around ~$1500.00-$2000.00

enuff

Enuff I think most of the early retirees use charge cards pretty extensively, although there are exception like W2R. My charge cards are also in the $1500 month range, because I charge everything over $10. However, I think one characteristic that virtually all of us early retiree share is that we almost never incur finance charges on our credit cards. Paying off the credit cards balances at the end of the month is automatic.

If you are finding that you are having trouble paying off your card balances at the end of the month, I'd highly advise to stop using cards and pay cash instead.

There are many paths to an early retirement. However there is one sure one of never seeing it and that is pay 20% interest on stuff you don't need.

 

[bbbamI]

I don't know if a CC/DC/Cash is the problem/solution for the OP.

I think the solution is a budget.

 

[clifp]

I don't know if a CC, DC, cash is the solution/problem for the OP.

I think the solution is a budget.

I recently have been watching CNBC Till Debt do us Part, which I find to be much better than Suze Orman and even better than Dave Ramsey.

Gail, the host, puts the couples budget in cash in various jars. So while I agree that budget is absolutely necessary, making a budget is relatively easy sticking to it is hard. I think credit cards are the biggest budget busting device in the world.

 

[scrabbler1]

Enuff I think most of the early retirees use charge cards pretty extensively, although there are exception like W2R. My charge cards are also in the $1500 month range, because I charge everything over $10. However, I think one characteristic that virtually all of us early retiree share is that we almost never incur finance charges on our credit cards. Paying off the credit cards balances at the end of the month is automatic.

If you are finding that you are having trouble paying off your card balances at the end of the month, I'd highly advise to stop using cards and pay cash instead.

There are many paths to an early retirement. However there is one sure one of never seeing it and that is pay 20% interest on stuff you don't need.

I am an exception, too, using my CC about 5 times per year and my debit card maybe once a year. Anything under $50 (and some things over $50) I pay cash. But I surely agree with everying else you wrote.

I also watched some of that "Till Death Do Us Part" show recently. That's one pretty sad lot of people there and how bad their spending practices are.

I write only 1-3 checks per month on average, with most of my bills paid via automatic electronic payment for the last 10-15 years. My dividend income deposits are made the same way so most of my budget is on auto-pilot.

 

[W2R]

I recently have been watching CNBC Till Debt do us Part, which I find to be much better than Suze Orman and even better than Dave Ramsey.

Gail, the host, puts the couples budget in cash in various jars. So while I agree that budget is absolutely necessary, making a budget is relatively easy sticking to it is hard. I think credit cards are the biggest budget busting device in the world.

I like that show, too.

One thing's for sure. As the saying goes: If you do what you always did, you'll get what you always got. She really changes how these couples handle money and budgeting, and this is very helpful to them.