How to manage finances - do I put all my money into my credit card or into my debit card?

Do top up my credit card or my debit card for every day use? How do you manage your finances?|||This is how I do it.





I set up a REALISTIC budget based upon the previous years expenses (mortgage, utilities, food, etc).


I take 5% of my gross and put it into savings/investment accounts.


I take another 5% for an emergency fund.


I give to the government only the minimum needed to meet my tax obligations (state %26amp; federal).


If I want a luxury item (large screen TV), it put aside a fixed amount of money to save and pay cash for it.


I spend the rest for living expenses, mortgage, utilities, etc. If I have any left over, I put it into my emergency or savings fund. If I don't have any left over, I do without.





Never use a credit card to supplement your income. Once you do that, you are spending more than you earn; taking the road to never-ending debt. Then you'll be talking to debt settlement or debt consolidation companies or the BK lawyers.|||You should look into other areas for savings if you really have extra money sitting around. Personally if you've got regular credit cards and are responsible with their use, you can be just fine cutting up the debit card-they're too restrictive in my opinion and I hate the ideas of the ones tied to checking accounts...again, JMO. If you have a balance on your credit card though it's always best to pay that off first because their interest rates are so high. These are just a few thoughts between the two types of cards.


Now if you're interested in how to actually manage your money/bills/finances/retirement, etc.-that's a totally different issue and like anything, every one has wildly different opinions how to handle that too. Just search online and you'll be blown away with all the suggestions you get. In general all agree to pay all bills off ASAP (except for low rate things like a mortgage or very low rate loan on a car) and put the rest into some kind of investments (401 first, then investments you feel comfortable with) and keep a few month's worth of income in short-term cash reserves.|||one way is putting all the monies into a savings account with high yield (for example ING Direct) and a "standing order" for a fixed amount to be transfer into the debit card|||I prefer to manage with my Debit Card.