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Keeping Track of Credit Card Purchases

My wallet is made to hold both my checkbook and register as well as my cards. When using the debit card I just enter it as a check without the check number (but with the date) and subtract it from the account. It makes it doubly easy to monitor purchases when going over my bank statement.

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When using the credit card, I add a little CC to the transaction description and subtract the amount from the account immediately, adding it to a running CC total in the bottom margin. That way I never overspend and always have the money to immediately cover the total credit card bill. It helps me stay disciplined and makes the credit card a tool rather than a temptation.

Since one reason that I keep a credit card is in case I ever have to use it for an emergency, I also round up each amount, which over time has built up a healthy emergency savings in my CC accounting. I have never felt any urge to tap into this since the comfort of knowing that it is there is worth more than any impulse purchase.

By Jeanne from Florida

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May 23, 20060 found this helpful
Top Comment

I also do this with my credit card. The only reason I even use it is because it's a Disney card that earns points towards Disney dollars. I use it for everything I can - gas, groceries, home improvements, every purchase possible, utilities (phone, cable), insurance and even medical payments - to earn the points, but I write each and every transaction into my checkbook register as if it is a check or debit purchase. To separate it from other transactions, I enter it as DIS and do all those entries in red.

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When time comes for the bill to be paid I can reconcile the transactions against my statements easily because all the transactions are in red, the money to pay the full balance is already accounted for so I pay the balance off and I NEVER carry a balance .. all this plus I'm earning points toward our Disney vacation this summer that can be used toward our hotel or park tickets among other things!!

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By Diana (Guest Post)
May 24, 20060 found this helpful

Why not use a debit card that gives the same benefits use a visa check carad issued from my banks and get points when I use it as a credit card (no pin number entered but it is deducted from my checking account)

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January 22, 20180 found this helpful

I use my "1-2-3" credit card for everything, even small amounts. Never use an ATM card as that is too dangerous. A check is used only when nothing else will be accepted. All receipts for that credit card are entered each evening in a check register used for that card only.

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That way I know what and where I charged things and can check off all the entries when I get my statement at the end of the month.

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January 7, 20220 found this helpful

I always put my main credit card in a different spot in purse instead of wallet. That way if you lose your wallet or its stolen, you still have your main c.c. All receipts of purchases I make in stores that day with my debit card are put in my wallet. Then when I get home I record in my check book register. Then receipts i need to keep i put in certain drawer to save! Don't let cashiers put receipts in with your purchases in bags, you tend to misplace or forget.

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Budget & Finance AdviceMay 23, 2006
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