For many years, I spent so much on Christmas gifts that I maxed out my credit cards. I may have given everyone on my list a gift, but I only gave myself financial stress. It took all year long to pay all that money back. It was a vicious cycle of debt!
Because of out of control spending, I couldn’t meet my payment dates, and because I missed those payments, late fees were added on to what I owed. It seemed like I would never get out of debt.
Finally, I decided that it was worth more to me to be debt free, and happy, and have money to use every month to spend a little bit on my children than to give them so many gifts during the holiday season. By cutting back on gift giving, and tightening the financial belt in other ways, I was finally able to crawl out of that debt hole.
One of the things that I did that helped me get a handle on my debt was to write it all down in a little notebook. I made a page for every account I had that included the name of the account, the address, telephone number, and account number, the due date, and the balance due on the day I started the book. Then, every month, I made a page to record the payments I made for each account, the amount, the date I paid it, any confirmation numbers from paying online, and any other notes such as if I talked to someone at that company to make a payment arrangement, or if I paid more than what was due that month.
By doing this one simple thing, I was able to get in control of my debts, and get all of my accounts up to date, and stop paying late fees. Eventually, I was able to get out of debt completely. This has been such a #FinancialPeace of Mind for me. I still keep track of monthly payments in a little notebook, because it still gives me a good feeling to be able to see at a glance that all the bills have been paid, and paid on time.
It’s easy to get caught up in the hustle and bustle of the holiday season and lose sight of the goals we’ve set to help us achieve financial peace of mind. While you may have gifts, greetings and get-togethers on the brain, it’s important not to lose sight of your financial goals. All of Capital One 360’s Black Friday Sale deals are designed to encourage consumers to keep their finances top of mind. In addition to taking advantage of deals on banking, brokerage and mortgage products yourself, you can give your friends and family the gift of financial peace of mind by encouraging them to take advantage of the deals and refer them to the sale. If they sign up, you may be eligible for a $40 referral bonus.
- Capital One 360 products are designed to save consumers time and money. From online to our mobile app, Capital One 360 is with customers 24/7.
- Capital One 360 Checking and 360 Savings are fee-free and earn interest.
- Capital One 360 offers remote deposit capture with Capital One 360’s CheckMate tool and make savings a snap with the Automatic Savings Plan.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.
Capital One is awesome because they have great savings plans and no overdrafts!
I really need to start writing things down more. I am SO bad at doing that and usually keep everything in my head.. not a good idea!
I need to get better at my budget. I am making progress but I am no where near where I need to be
You would cringe at my lack of keeping track of things! Thankfully I don’t have debt aside from monthly living expenses!
I really NEED to start keeping better track of my spending. I’m often shocked at the amount I’ve spent after the holidays are over.
I’m a total old school write it in a notebook too! You have great tips here and I love what Capital One 360 is doing
The sale looks really nice. There are really good bonuses for anyone starting up accounts.
Writing things down helps me keep things organized as well. I actually prefer paper & pen for certain things. I would love to write down how much I saved on Black Friday!
I love keeping track of things like payments and due dates. Seeing it all in front of me makes it so much easier to plan ahead. Great job getting out of debt.
The notebook idea is such a great idea. I used to do something similar, but since stopped since everything is now on my phone. There’s something about seeing it all there in front of you on paper, though.
I am currently working on setting a budget now.
I remember the stress of the year we decided no more gifts for adults… funny thing was everyone was relieved & now we can enjoy the season.
That is awesome that you got out of debt. We don’t do adult gifts and the kids makes gifts for each other.
Debt free is the way to go. If only!!! We only have one credit card but need to pay it down. Setting a budget is a great start.
I’ve tried using Excel to track my expenses but then I never enter anything! I am going to try your notebook trick!
I’ve had a CapitalOne card for years now. I only use it at Christmastime and then pay it off throughout the year. They’ve always been great with my rates.
I like your system! Sometimes a notebook is best!
I could never keep up with budgeting software, I like your system! Credit card debt can be very stressful.
I just heard about 360 the other day. It sounds like a great program!