If you are good with your money you probably track each and every dollar that goes into and comes out of your checking account. While this is not the way that everybody treats their budget, it is definitely something you should think about doing. With this in mind, many people forget that they should also be tracking their credit card spending. Instead of waiting for your statement and the surprise that goes along with it, why not track each and every dollar that you spend with your credit card?

Tracking your spending is as simple as writing down each transaction or tallying receipts at the end of the day, week, etc. Is that too difficult for you? If so, see if your credit card company offers an online system that automatically tracks your spending. In this case you can log-in, see what you have spent this period, and then take things from there. Either way, you will at least know how much you have used your credit card during a given month and whether or not you should slow down for the time being. On top of this, knowing how much you will owe allows you to better plan for the future.

There is nothing wrong with using a credit card. There is something wrong with using it, losing track of your spending, and owing more than you can handle. If you want to be responsible with your money, including your plastic, make sure you closely track your spending. In the long run this will make your life easier and put your budget in a much better place.

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