Disagreements on the use of credit cards has caused more of a marital disagreement – and in general money matters have caused much of a divorce. The best course of action is to reach an agreement before the fight begins.
The first thing couples should agree is how much debt they can handle. A spouse may be comfortable because of several thousands, while others panic at the idea of a balance of $ 200 by credit card.
Talk about that. Watch your combined income and your other debt – such as car payments or home, and then decide if you want another monthly debt. Think of your monthly expenses for food, utilities, gasoline, etc. and see how many “extra” that you have left over to pay on a credit card bill. This supplement, how much you want to spend on extras such as entertainment or a night on the town?
Remember, if you use your credit card for a major purchase and have a debt to pay, making the minimum payment you keep paying for years. So tell how many months (years?) You want to pay for that new stereo system before deciding to put it on your credit card.
If you are able to deduct expenses such as gasoline and restaurant meals, it could be a good accounting tool to use a credit card only for purchases and pay the full monthly statement. But then you have to resist the temptation to let these charges add up when you prefer to use the money for a mini-vacation or a new wardrobe.
If you are good money managers, you can use your rewards credit cards for all monthly expenses – groceries, gas, clothes, restaurant meals, etc. and get the benefit of reward points. But the benefit of these items will disappear if you do not pay the statement (s) in full each month.
These reward points can become another source of disagreement. If any of you looking forward to cash them a new toy and the other assumes that you will use to pay off debt, you have a problem. Before you have the points to money, discuss what you will do with them.
Another thing to remember – ego should not play a role in deciding who pays the bills. The person who is the most organized and best able to get payments sent on time should be supported. You should also go to the Bills and discuss your expenses, but in the absence of a person is in charge of the payment, the result could be late fees – and a drop in your credit score.
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