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Credit cards can be a great asset if used properly, but they can also leave you in financial issues fast. Many people have credit card debt and don’t even realize it. Here’s how you can review your credit card bills to unearth opportunities for improving your finances.
How I Checked My System In The Early Days
I used to do a weekly five-minute review of all the charges on my card. If I took no action, my credit card reached into my checking account once a month and paid the full amount automatically. No late fees, no worries. If I did see an error, I just called my credit card company and got it fixed.
Let’s talk about those weekly reviews for a second. I liked to keep an eye on my credit card charges whenever there was tipping involved, so I would keep my receipts whenever I went to restaurants and store them in a paper folder on my desk. Every Sunday night, I’d check the folder and spend about five minutes comparing my receipts with what my credit card’s website says. I’d just do a “Ctrl + F” for the amount (for example, $43.35) and confirm that it’s correct . If I wrote $43.35 as the full amount after tip, but saw that the restaurant had charged me $50, I knew someone was trying to make a quick buck off me. And in that case, you need to ask yourself one question: WWAID? (What would an Indian do?)
Answer: A quick call to the credit card company will resolve this.
How I Check My System Now
I don’t do those weekly reviews to catch a $6 added tip anymore. The more experienced you get, the more you can spot unusual deviations to your own spending—and even if someone adds $6 to a tip, it doesn’t matter.
Believe me, I know how weird that sounds. I built this system by being ultra-aware of every transaction that ran through it. But eventually you realize the system exists to help you focus on the big picture. a certain amount of waste. If someone adds $5 to my tip (and my…
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