As per my previous resolution to discipline more my budget monitoring, I'm trying to push further for using the credit and debit card in the majority of our family spendings. The online banking service and extracting the statement about the credit and debit spendings is really facilitating my effort to maintain regular and accurate as possible monthly budget.
I pay anyway the bank fees for these cards so it is better then to utilize them as operate the bank as my personal accountant!!.
Some people are regarding the plastic money as evil where they loose control on their expenditures and spending is very seducing using it.
In my perspective it is very convenient mean as long as I'm continuously extracting each new purchased item from the online banking and copying it in my Excel spreadsheet to update the all balances.
Following this manner has gave me the full control and show me the value of this bank records.
Debit cards definitely are much better where there is no risk of over-spending from the credit or any credit interests.
That's why I reactivated by debit card and I'm using it more than the credit since then to reduce the credit spending relative to the credit spendings.
The second resolution is the due payment time of the credit which I was missing always and credit interest charges were accumulating.
This was totally avoidable and unnecessary cost and I already implemented my previous resolution to pay before the due time and I will even deposit upfront in the beginning of each month our projected expenses to cover the expected credit.
By this way I will avoid totally the credit interests and this silly late charge assessments from HSBC!!!.
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