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Well, I HAVE to refrain from using my credit cards unless there is an emergency. I just don’t have the willpower and continue to use them recklessly. My CC bill is due in about a week and that will be the end of that. I do have my regular bills charged to one CC and will continue that method of payment, but I do not carry that card in my wallet.
As I finish my last year of law school, budgeting is even more a priority. I will have to begin repaying my private student loans 9 months after graduation and my federal consolidated loan goes into repayment immediately. Since this is my last year of law school, I have a small window of time to establish better spending habits.
I am still going to open an ING account and a Sharebuilder account and I want to deposit $50 in each account when I get paid (once a month). While I agree that the Bank of America Keep the Change Program is not entirely attractive given the low interest rate on the savings account, I think I will go ahead and open an account. Anything transferred in the savings account will get swept into a higher interest bearing account at the beginning of the month, when I make my new $50 contribution.
I just need to get better hold on my spending NOW!
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4 comments:
The ING account is a good idea. There direct deposit it very easy to establish, you print the form directly from the website. I just started to have my savings direct deposited, it does take a load off in terms of stress.
I am in your corner for using credit cards less. Build that habit before you get out of law school. The more solid your spending and saving habits are before you begin paying back your loans the better. Making automatic deposits into a savings vehicle is a great idea as well. Forced savings without having to worry or think about it. Good luck
Also if you do a referral from someone and deposit $250 or more, you'll earn a bonus of $25. I can get you a referral if you like.
Recklessly use of a credit card or using it out of your control are the instances we might encounter. I suggest to settle first all the current charges and not use your credit card until you are not settled on your current bill
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