I use my credit card for everything as I get cashback from my Bank

[Guest]

In previous years I've always paid my balance in full by the statement date..so no interest..but sometimes I'm actually shocked at the balance..and have to scrape around to pay it.

My money resolution this year is to pay it as I use it..I'm hoping this will make me more mindful of what I am actually spending..as I know I'm just tap tapping without thinking.

I've been through hard economic times before with my family..but I feel I need to get my act together now..and make the mental shift to being savier with money again and weather this storm again.

We've done it before and come through.. and for those who are experiencing this for the first time speak to those who are older and have been here before..take a bit of scrimping advice..and learn some skills to help to manage and next time around..because there will be a next time the skills we need will be there.

Wishing good luck.. health.. and happiness to you all in 2023..

[Ross]

Think this year I got to pay the interest for 1st time in 7 years. Royal mail strikes cost me 3 weeks of trading so it is what it is! No idea what I need pay on 3k balance.

[Paul]

For me I regularly check my spending and balances and maintain a budget so I pretty much know where I am day to day. I do splash out but only when I can afford it and maintain a contingency for unexpected bills....like car repairs.

[Elizabeth]

Hi, set a budget write it down open another bank account online. When Salary comes into your usual account transfer savings right away and work on what's left. For example if your buget is £1000.00 and your salary is more transfer the balance into savings good luck.

[Fiona]

I do sort of similar. I use a debit card for all payments as it has a round up option and at the end of each day I transfer from the main current account.

[Steph]

I pay my credit card off in full at the end of each month too, and have a Sainsburys one so get points - I do love something for nothing!

[Daryl]

The best advice I can give from experience, is to use cash when possible , and you will soon realise your debts decrease.

[Sue]

It is really a personal choice- I use my card for almost everything- and pay it off in full each month- so every so often I get points I can spend. But I do keep an eye on the balance I'm building on the card. Like I say absolutley a personal choice- whatever works for you.

[Angie]

Cash is king for me. My bills are paid by direct debit, then I draw out what cash I think I need each week. If there's some left over, I draw less the next week. If it's all gone I don't spend anymore. You really do realise how much you spend once you swap from card to cash!

[Christine]

I only use my credit card for essentials and I never spend more than I have in my bank account. For me, credit cards are NOT for borrowing money, they are solely for building & maintaining good credit for a time when you may need that good credit. Rewards and cash back are a bonus, but racking up your credit card is not worth any amount of rewards. Period.

I mainly use my credit card to buy gas and groceries. Sometimes the occasional meal out or to book some travel stuff. But I have not once held a balance over and have never used it if I didn't have that amount x 3 in my bank account.