Another $500 Off The Credit Cards

I just paid another $500 off my credit card. I’ve been sitting on this money for a couple of weeks, the only rational I have is that I thought I might need it.

Another strategy I’m considering is transferring the bulk of my pay as soon as I get it to my credit card and then using the credit card for all my purchases. I’ll still need to keep hold of a little cash but I could probably put $700 off my credit cards each fortnight.

The catch with this theory is that I would need to have a great amount of self control not to overspend. When I use cash I can see my wallet getting thinner, when I use the credit card it actually seems to get fatter with all the little docket reciepts I accumulate.

At the moment I have about $120 in my wallet and $378 in my everyday account, that’s got to last me the next 10 days until I get paid again. Now $500 for ten days may seem like an excessive amount of discretionary spending money, but my daily habits of eating and smoking (bad, I know!) run me to about $25 a day. Plus there will enveriably be other expenses, Wining, Dining, etc.

I also spent $130 on clothes yesterday, that went straight on the credit card, and I also spent $235 on a back up drive for my computer, which also went on the credit card, but fortunately because I still have a computer based business (even if it’s technically not making a profit right now) I can write the purchase (and the credit card interest) off against my tax.

I really need to focus on increasing my income so I can lead the lifestyle I want and reduce the credit card debt at the same time.

UPDATE: I found $270 in my business account that I had forgot about, which was immediatly transferred to the credit cards I use for business expenses

 
 
 

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