The mighty and all-encompassing CREDIT CARD!
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July 26th, 2013 (6:59 AM).
Originally Posted by
Try not to spend anymore than $100 altogether.
I got my bank credit card when I was eighteen or so (one and a half years ago) from my bank. It has integrated SPC and one Air Mile for every 20$ spent on the card. I now have around 750 or 800 Air Miles amounting to about 12,000$CAD in purchases over the last year and a half.
My first purchase was about 350$ - this small Acer computer and a laptop bag on Clearance at Staples. I also bought a RAM upgrade that I did in-store (to the awe of the employees lol)
But you're right. Never buy more than you can purchase through cash/debit, and always keep an eye on that balance. It's very easy to overspend on a credit card without even realizing it simply because you can't see that balance and may misjudge how much you've actually blown already.
There was a month I was almost in trouble. My credit limit had been boosted to 1,000$ because of an error in payment that left me broke for four days (I had paid the 500$ in my bank account and for some reason, it took four days to go through.
It never does that
so it was hard to plan around it). I had purchased to make and food to buy so I had to boost my limit. That somehow led to spending another 700$! I think I bought some furniture, but it was risque and I almost couldn't pay it all back on time lol So just be very careful because even the best budgeters can get caught in the trap
You have about 21 days from a statement to pay it back in full before interest tacks on.
Also, on another note, I use my credit card mainly for online purchases but also because my debit card has a per-month transaction limit of thirty that I typically use just through bank transfers and bill payments. Mastercard wants you to spend so they don't limit your transactions per month, which means I can avoid any sudden 1$/transaction fees for going over my limit.
Just be smart, and as someone else said (Mac?), don't spend more than you actually have on-hand. If you can't pay it with cash or debit, don't buy it.
Joined May 2013
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