Credit cards are easy to use – you just flip it out, swap it through the terminal, and then walk out of the retail operation not worrying about a thing.
Now let’s say you use cash instead of credit. Would you have spent as much as the card? Not likely! Studies show that credit card consumers spend about 15-20% more than cash customers.
So how best to manage credit card spending? With a budget. Before you go shopping, setup a budget for each holiday spend on family and friends. Take a pocket calculator (or use the calculator on your mobile device) to add up each item you place in the cart. Make sure the price on the items in the cart to not add up to exceed your budget. And when you return home, set aside the money for the budgeted card purchases so that it will be available when the credit card statement comes in.
Using this simple "credit card budgeting" tactic will make your holiday a joyous occasion without the worry of how it will be paid for after the holidays are long gone.
We hope this holiday tip was helpful. Please give this tip a quick comment/share and then jump over manage card purchases for a look on how to budget and manage credit card purchases.
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