Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
What's monthly credit card charge??
Old 01-03-2010, 07:15 PM   #1
Recycles dryer sheets
 
Join Date: Oct 2005
Posts: 443
What's monthly credit card charge??

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
__________________

__________________
Enuff2Eat is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-03-2010, 07:36 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Between $0 and $100 unless we go on a trip which would mean $1K - $5K.
__________________

__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 01-03-2010, 07:36 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,906
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.
__________________
easysurfer is offline   Reply With Quote
Old 01-03-2010, 07:43 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,873
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.
__________________
scrabbler1 is offline   Reply With Quote
Old 01-03-2010, 07:47 PM   #5
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
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.
__________________
73ss454 is offline   Reply With Quote
Old 01-03-2010, 07:55 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,873
Quote:
Originally Posted by 73ss454 View Post
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.
__________________
scrabbler1 is offline   Reply With Quote
Old 01-03-2010, 07:57 PM   #7
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,150
Quote:
Originally Posted by Enuff2Eat View Post
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.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 01-03-2010, 08:17 PM   #8
Recycles dryer sheets
mews's Avatar
 
Join Date: May 2008
Posts: 477
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
__________________
mews is offline   Reply With Quote
Old 01-03-2010, 08:18 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,627
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.
__________________
LOL! is offline   Reply With Quote
Old 01-03-2010, 08:23 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,445
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.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is online now   Reply With Quote
Old 01-03-2010, 08:38 PM   #11
Recycles dryer sheets
 
Join Date: Apr 2009
Posts: 81
$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.
__________________
av8er is offline   Reply With Quote
Old 01-03-2010, 08:40 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,460
Quote:
Originally Posted by Alan View Post
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!!
__________________
calmloki is online now   Reply With Quote
Old 01-03-2010, 08:45 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,975
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.
__________________
aaronc879 is offline   Reply With Quote
Old 01-03-2010, 08:46 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
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.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Old 01-03-2010, 08:51 PM   #15
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 3,400
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.
__________________
Katsmeow is offline   Reply With Quote
Old 01-03-2010, 08:53 PM   #16
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,950
Quote:
Originally Posted by 73ss454 View Post
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.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 01-03-2010, 09:13 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
nm
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 01-03-2010, 09:15 PM   #18
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
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.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 01-03-2010, 09:53 PM   #19
Recycles dryer sheets
JustNtime's Avatar
 
Join Date: Oct 2009
Posts: 150
Quote:
Originally Posted by Bikerdude View Post
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...
__________________
JustNtime is offline   Reply With Quote
Old 01-03-2010, 09:54 PM   #20
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
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!
__________________

__________________
Goonie is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Will closing a credit card hurt my wife's credit score? bank5 Other topics 4 06-03-2009 07:01 AM
Pre Paid Credit Card/ Gas Card or Credit Card nphx Other topics 4 04-29-2008 02:04 PM
Pay your credit card off monthly? calmloki FIRE and Money 24 11-18-2007 09:48 AM
Best Bonus for Credit Card Expenitures -Frequent Flyer cards or Cash-back card? ScaredtoQuit FIRE and Money 19 04-21-2007 04:29 PM
Charge new car to credit card ??? rjk514 FIRE and Money 29 03-20-2007 08:50 PM

 

 
All times are GMT -6. The time now is 10:57 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.