WAYS TO MONITOR CREDIT CARD BALANCES

I am really fond of keeping track of my purchases especially when I am using credit cards. And here are the some of the things I do to go about it:

1. FOLDER SYSTEM. I keep separate folders for every credit cards I have. I file every statement and payment receipts to there corresponding folders. I received about 5 credit card statements every month even from the cards I don't already use.  And they file up.  So I decided to shred the statements and only keep the last 2 months statement for each card because some agencies requires you to submit credit card statements.  But because I want to track all my purchases, I created option number 2.

2. EXCEL WORKSHEET. I created this excel worksheet wherein I just encode every purchases when I get home. 1 sheet for every credit card I have.  When doing this, I don't have to wait for the statements to arrive to know how much balance I carry. I only use the statement for reconciliation purposes between my record and the credit card company.  After doing the reconciliation, I then shred or burn the old statements.  I don't just throw them away on the trash can for security purposes.  I keep the worksheet in a flash disk so I can update it anytime and anywhere. (see above photo)

3.  LEDGER.  I also tried using 4 column ledger to record all my credit card purchases.  But I find them inconvenient because I have to carry these ledger everytime I travel.

4.  INDEX CARD.  I am also using index cards to write down my purchases before transferring them to my excel worksheet because there are times that I feel lazy to open my computer and encode.  I use one (1) 5 x 8 index card for every credit card.

How about you?  How do you monitor your credit card purchases?  Share it with us.

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