How to Create a Credit Card Control

Keeping track of your credit card expenses is critical to not spending more than you should and having trouble paying the bill in the future. When you lose track of how much you are spending on the card, you may not have the money you need to pay the total charged and get into debt by resorting to the minimum payment or, worse, fail to pay the bill. The credit card rotary, next to the overdraft, charges the highest interest in the market. Having too many debts in this means of payment creates the snowball effect: it leads to defaults and, consequently, fouls your name on the market. The best way to avoid this situation is by controlling the expenses and paying your debts on time. To perform this control, it pays to create a credit card worksheet, noting the expenses incurred and arranging the payments. Learn how to create a credit card worksheet:

Create a spend tab on the credit card worksheet

Create a spend tab on the credit card worksheet

The first step to creating credit card worksheet is to choose the program that will be used. You can create your document in either traditional Microsoft Excel or Google Sheet. Start with the “Expense” tab. In this space, you must specify all the expenses you had with the card, such as supermarket, purchases, air tickets etc. It is important not to forget to note any expenses, however small. Only in this way will you be certain of the amount you will have to pay on the next credit card bill.

Enter a spending data tab for the month

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Then create a second tab: “Cards”. Here, you’ll enter data for the month’s purchases. In this part you can access your balance. Check the “Cards” tab to find out how much you have already spent on your limit and how much your bill should be in the next month.

Stay tuned to installment expenses

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Many people have the habit of splitting the purchases on the credit card. If you spend some money, make sure you put it correctly in your spreadsheet: each installment in the respective month of payment. It is also important to write down the parcel number. So you will know how much you will still have to pay in the following months. An alert: Only add a purchase in the last case. It is very easy to wind up in the future and have trouble taking out the plots. The ideal is always to save money to get the goods in sight.

Track the categories where your biggest expenses are

Track the categories where your biggest expenses are

It is essential to specify, in addition to the value and from where the purchase was made, in which categories are your expenses: Food, Leisure, Supermarket etc. This way you can identify in which areas of your budget the highest expenses occur and where possible, if necessary, to cut expenses.

If you do not have the time or the patience to feed the credit card worksheet manually, you can control spending on this payment medium with the help of applications. One of them is the Golias, which already shows the expenses with the credit card automatically. With this, it is not necessary to write down expense by expense, which saves time and facilitates control.

 

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