I have posted this before and I know a few other do this too. I have solved my issues with overdrawn accounts and get travel benefits too.
Honestly, it is so easy. I use my Chase Visa card for EVERYTHING over $10.00 that I can charge. I then deduct the amount from my checking balance. I simply leave the check number blank and I know it is from the credit card. I then have a HUGE reserve in my account all the time. I pay off the credit card fully each month. I go through the card statement just like I do with my checking statement and check off each one. If I happened to miss a deduction, I put it in. If I have a return, I add it back in. This allows me to carry a large checking balance but I really don't "have" the money, it is just waiting to be sent to Chase.
In the past 7 years I have been doing this, I have had two occassions where I needed money fast. I had it waiting. I had to carry a balance on my credit card for a couple months until I was able to make up the money and get back into balance but I have payed interest on my card less than 6 months in the past 7 years.
I never have to worry when a check will clear my account or if my bills can be payed on time. I can write my checks for my car and mortgage a few days early knowing the money is available and when my paycheck comes it is covered back in the account. I don't even have to think about it. DH gets payed a few days after I so we have deposits nearly weekly and that helps.
Honestly, this has helped me keep my charging in check too as I can look at my checkbook and see if the money is there, if not I don't spend it. Period.
You can get extra check registers at your local bank branch if you need them. I also use only ONE credit card. I have a back up for emergencies but I never use it. I don't use gas company cards or individual department store cards, only my Visa.
It feels good to have the finances under control and that is how I feel about this method, in control.
Honestly, it is so easy. I use my Chase Visa card for EVERYTHING over $10.00 that I can charge. I then deduct the amount from my checking balance. I simply leave the check number blank and I know it is from the credit card. I then have a HUGE reserve in my account all the time. I pay off the credit card fully each month. I go through the card statement just like I do with my checking statement and check off each one. If I happened to miss a deduction, I put it in. If I have a return, I add it back in. This allows me to carry a large checking balance but I really don't "have" the money, it is just waiting to be sent to Chase.
In the past 7 years I have been doing this, I have had two occassions where I needed money fast. I had it waiting. I had to carry a balance on my credit card for a couple months until I was able to make up the money and get back into balance but I have payed interest on my card less than 6 months in the past 7 years.
I never have to worry when a check will clear my account or if my bills can be payed on time. I can write my checks for my car and mortgage a few days early knowing the money is available and when my paycheck comes it is covered back in the account. I don't even have to think about it. DH gets payed a few days after I so we have deposits nearly weekly and that helps.
Honestly, this has helped me keep my charging in check too as I can look at my checkbook and see if the money is there, if not I don't spend it. Period.
You can get extra check registers at your local bank branch if you need them. I also use only ONE credit card. I have a back up for emergencies but I never use it. I don't use gas company cards or individual department store cards, only my Visa.
It feels good to have the finances under control and that is how I feel about this method, in control.
