Know What You Owe

Nothing ruins New Year’s more than getting the old year’s bills.
Keep track of what you spend as you spend it so you won’t get that nasty surprise in the bland white envelope. These tips will help you stay on top of it.

• Keep a running total of credit charges and debit withdrawals on a small piece of paper tucked with your cards. It’s impossible to keep a running total in your head, and nearly as unwieldy to keep all those receipts in an organized cluster in your purse.  But by writing down in one place what you are spending, you can easily see when you are nearing your limit.
• Closely examine statements, both online and print.  This is the season for scammers. Unscrupulous companies or outright thieves often go for the insidious theft rather than the big grab. They will charge a small, innocuous amount monthly. By the time you catch on, they’ve gotten several hundred dollars from you. If you don’t recognize the retailer, call your credit card company for more information about the charge. Better to put a stop charge on a mystery line item than to let it go so long you can’t get back the purloined funds.
• Use cash, especially for small items. It’s easy for them to invisibly add up when you charge every small thing.
• Remember to keep tabs of entertaining and travel costs, too. Just because you can’t put a bow on it doesn’t mean you don’t have to pay for it. 
• Coordinate with your partner. If you share shopping responsibilities, be sure to update each other on what you’re spending. Great excuse for a coffee break!
• Trying to save for a new house in the spring? Consider ‘buying’ something for the house – a planter? A lamp? Paint? – with what you save by not overspending.  Keep the purchase price of that item on your wish list…after all, it’s something you wish for yourself! A tangible reminder of your goal will keep it front and center among the holiday glitter.