credit card management
I initially planned to take my car in to the shop after my next paycheck. Instead, I set up an appointment for this morning. Of course, because I saved and invested the remainder of my last check, I don’t have the cash to pay. So, I’m going to put the expense on one of my credit cards and then pay the card back from this week’s paycheck. I hate having credit card balances, so I’m tempted to send the payment in as soon as I have the money. However, because I’ll be in the market for a mortgage, I still want to keep a good record of payment with my credit cards. Instead of sending the payment directly in, I will use my online bill pay to schedule the payment so that my credit card lender receives it AFTER I’m billed for the balance. That way, my record shows that I actually was billed that amount and that the amount was paid in full. I’ve done this once before with good results. It’s my new credit card payment policy. The key here is to treat the scheduled payment just like a check - count the money gone as soon as you schedule the payment, so that you don’t accidentally spend the money you’ve promised to your credit card company before the scheduled payment goes through. If not, chances are you’ll overcharge your checking account.
