Help - I rack up such a high balance on my credit card every month

[Anonymous]

So, before you had a credit card you didn't have problems with spending your money? I am asking for clarification since you state in your OP that "since opening a credit card I am racking it up so fast."

If you didn't have a problem managing your money before you got a credit card, then the simple solution is to get rid of the credit card.

[Anonymous]

I think that OP needs to develop a credit history. If she ever wants to get an apartment or a mortgage, she will need one.

Now it the time to learn how to use credit responsibly! It's good that you're getting the spending under control when your bill is still in the $700-900 range per month.

The previous suggestions to budget and add things weekly are excellent. Also, define for yourself what you WANT to use the credit card for -- plane tickets, gas, grocery store are all good places that come to mind. Also copays at the doctor (helps me track reimbursements).

If you want to cut down on restaurants, make sure you're packing your lunch for work. This way, you still have some money in the budget to eat out with friends on the weekend. Make sure you're paying in cash, tho. Don't put it on your card and have people pay you!

If you slip up at Target or buy more clothes that you budgeted for, return them.

Good luck. I think you can get this under control quickly.

[Anonymous]

Anonymous wrote:I think that OP needs to develop a credit history. If she ever wants to get an apartment or a mortgage, she will need one.

Now it the time to learn how to use credit responsibly! It's good that you're getting the spending under control when your bill is still in the $700-900 range per month.

The previous suggestions to budget and add things weekly are excellent. Also, define for yourself what you WANT to use the credit card for -- plane tickets, gas, grocery store are all good places that come to mind. Also copays at the doctor (helps me track reimbursements).

If you want to cut down on restaurants, make sure you're packing your lunch for work. This way, you still have some money in the budget to eat out with friends on the weekend. Make sure you're paying in cash, tho. Don't put it on your card and have people pay you!

If you slip up at Target or buy more clothes that you budgeted for, return them.

Good luck. I think you can get this under control quickly.

I agree. But she can still get rid of the physical credit card but maintain the account to build credit. She could have her Verizon bill be paid by her credit card automatically every month and then she can pay the credit card bill electronically. Account gets use but not having the actual card while she is out and about keeps her from spending frivolously.

[Anonymous]

Anonymous wrote:
I started pulling out a huge (for me) amount of money each month in an effort to halt the even larger cc bills. Yes, it hurts every time I have to break a $20 bill to make a purchase throughout the month, but it sensitizes me to the spending. I have a LOT of points accumulated on my card, so I don't mind using it. But, when I need to pull back, I switch to cash.

Uber is my weakness. Those bills bite me each month. I tell myself it's better than owning a car. I suspect it's just a lie I tell myself though. If Target is your weakness, you best stay away unless you have a list in hand and are purposeful in your visit. I used to take the kids and just wander around Target. The spending was RIDICULOUS. "Oh, what cute sheets! What an adorable set of dishes..." Stoopid. So, I stopped. I don't know what they pump into the air at Target, but it's intoxicating! I knew it was bad when everyone in a red shirt knew me (and the children) by name!

Good luck getting this under control. Financial spring cleaning is an awesome way to start the season.

OP here, thank you!! good advice. ugh yes target is addicting. USUALLY i'm great and only buy necessities..but some stuff like home decor I can't pass up..

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:thanks to everyone for the valuable and kind responses. anyone else with rude comments, god bless

You know that's passive-aggressive, right? And that when someone is passive-aggressive, it's a sign of immaturity? I'm not sure if that's what you intended to be putting out there, but it's what you've done.

I disagree. I give her credit for handling the DCUM a-holes with restraint. I think it actually shows a great deal of maturity.

Thank you PP. I wasn't being passive aggressive...just dismissive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But she can't afford it

Why not? She lives at home rent free.

And she says she has no debt. She sounds cheap.

What do you mean by cheap?

She is crying/ complaining about spending a small amount of money, under average spending.

Lol no... not cheap. A small amount of money to you maybe, but to me $900 for a monthly balance on Target and groceries and gas and whatever is too much. it's called spending within your means

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I started pulling out a huge (for me) amount of money each month in an effort to halt the even larger cc bills. Yes, it hurts every time I have to break a $20 bill to make a purchase throughout the month, but it sensitizes me to the spending. I have a LOT of points accumulated on my card, so I don't mind using it. But, when I need to pull back, I switch to cash.

Uber is my weakness. Those bills bite me each month. I tell myself it's better than owning a car. I suspect it's just a lie I tell myself though. If Target is your weakness, you best stay away unless you have a list in hand and are purposeful in your visit. I used to take the kids and just wander around Target. The spending was RIDICULOUS. "Oh, what cute sheets! What an adorable set of dishes..." Stoopid. So, I stopped. I don't know what they pump into the air at Target, but it's intoxicating! I knew it was bad when everyone in a red shirt knew me (and the children) by name!

Good luck getting this under control. Financial spring cleaning is an awesome way to start the season.

I tell myself that Uber is cheaper than a DUI.

+1

[Anonymous]

Anonymous wrote:OP- I think you're awesome! You don't have a real, serious spending problem but you see yourself flirting with one. You want to be responsible and develop the good habits that lay a foundation for your life. That is really great and you should be proud.
1) If you must go to Target take cash out of the wall or use what's in your wallet. No CCs allowed. That place will bleed you dry in a hurry. In fact, think about what you are going in for and try to figure out another place to get it. Grocery store? Drug store? Clothing store? That cuts out the impulse spending.
2) Stick your card in your freezer-- physically or metaphorically. Don't do that thing where people freeze it in a block of ice, because that is stupid. What I mean is put it where it is never accessible on a whim. You might be disciplined enough to have it in a drawer or maybe even in a separate pouch in your handbag. Just do whatever it takes to break the urge to be impulsive.

I might have more tips but my youngest is flooding the bathroom right now so I must RUN.

Thank you!! Yes I'm definitely a shopper and want to prevent myself from getting into serious debt. I know I like splurging and buying what I like. Probably a good idea to use only cash in target.. I think I will actually try that

[Anonymous]

Anonymous wrote:
OP, I really applaud you for thinking about this. The more you save now, the better off you will be in the long run. This is the optimal time to save!

I do think you can get a cheaper phone plan that you will like. I moved from Verizon to Cricket and have not noticed ANY difference. It saves me $60 a month (from $100 down to $40) and it is a month to month so I can change to another plan if I really want to do that. I suggest you try another provider when your contract comes due. You can always go back to Verizon if you don't like the new provider.

Also, if you don't pay rent, pretend you pay rent and put that amount into savings. Choose a reasonable amount that it would cost for rent and put that away (and deem it untouchable). This is good practice for when you do go out and rent and gives you a pot of money that you can use as an emergency fund or for whatever you may need later in life (and I mean need, not want).

Good luck! The sacrifices now will pay off BIG later!

From,

Someone who has been there

Thank you! I'm trying to learn good habits, become a big saver, and prepare myself for the real world. I like the idea of putting away the cost of rent. Right now I'm trying to save at least half of every paycheck and definitely have a good start

[Anonymous]

Anonymous wrote:I think that OP needs to develop a credit history. If she ever wants to get an apartment or a mortgage, she will need one.

Now it the time to learn how to use credit responsibly! It's good that you're getting the spending under control when your bill is still in the $700-900 range per month.

The previous suggestions to budget and add things weekly are excellent. Also, define for yourself what you WANT to use the credit card for -- plane tickets, gas, grocery store are all good places that come to mind. Also copays at the doctor (helps me track reimbursements).

If you want to cut down on restaurants, make sure you're packing your lunch for work. This way, you still have some money in the budget to eat out with friends on the weekend. Make sure you're paying in cash, tho. Don't put it on your card and have people pay you!

If you slip up at Target or buy more clothes that you budgeted for, return them.

Good luck. I think you can get this under control quickly.

Agreed!! Thank you! Yea I'd like to keep my spending on this credit card to under $300 a month- only the VZ bill, grocery store for food, and gas. Co pays too, definitely. Oh yea, I definitely don't eat out for lunch everyday.

Thanks for all the great suggestions everyone, I'm going to try some of these!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you live with your parents, why aren't you just on a family plan with them? My cell phone bill is very low due to the family plan. It's like an extra $40 including taxes to add another person on.

They kicked me off because I have a full time job.

I'd kick you out of my house too then, based on that logic

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you live with your parents, why aren't you just on a family plan with them? My cell phone bill is very low due to the family plan. It's like an extra $40 including taxes to add another person on.

They kicked me off because I have a full time job.

I'd kick you out of my house too then, based on that logic

I have a full time job, not a well paying full time job

[Anonymous]

Anonymous wrote:I'm early twenties, living with my parents. Zero debt, minimal bills every month. i just paid down a $900 balance last month and now I'm already at $700. HELP. Help me to stop. I'm saving as much as I can, but now since opening a credit card I'm racking it up so fast.

I want to keep it to like, phone bill ($100), gas ($23 every week), and occasionally groceries (probably $100 a month)

Stop paying $100 per month on your phone bill. What a god damn waste. I got Cricket and I'm paying $35.

[Anonymous]

Anonymous wrote:Can't find a cheaper phone plan, I like Verizon.

Grow the F up. Verizon is a waste of money. Find a cheaper plan. They're out there.

[Anonymous]

Yea. being told to "grow the f up" is going to make me change my mind. I'm 100% NOT complaining about the phone bill. I said thats what I would like to keep my balance at - the phone bill and gas and groceries. I like Verizon and I'm not switching so bye Felicia!