So I have a question. I'm still in school but I make some money on the side [some is consistent, some isn't] and I have a budget based on the different ranges of income I get per month.
So my question is: The way I use spreadsheets is I track how much money is in all of my accounts. I pay everything with my credit card so my credit score can remain high (Lol. Is this even worth it? Like I've been doing it forever. Surely people most know I'm a good borrower by now?). But I never know how much money I have exactly, without doing some calculations... because I have to subtract what's in my accounts minus what I've put on my credit cards.
I've made formulas on Excel to do this pretty much automatically, but my question is basically, Is this the same for everyone? You just work based on estimates in your head? What if you don't have a lot of money so you don't want to spend money you don't have.. means you have to balance your spreadsheet constantly right?
Like am I even doing this right? The reason I have to balance this is because I'm using credit cards for everything. Should I just use debit cards? I'm not having a problem with it, I'm nowhere near in debt. I'm just saying, it's very easy to spend money you don't have, but you think you have, with credit cards. You have to constantly balance it, especially because charges appear as pending for a while. So you see your bill is 3000. Ok no problem. Then in 5 days you decide to spend 2000 more. But then you realize 1500 was pending. You know? Then it becomes a problem. This never happens to me. I'm just saying though. BTW for full disclosure, I have multiple bank accounts and multiple credit cards.
Submitted April 16, 2017 at 11:46AM by Mike101111101010 http://ift.tt/2pqhbwG
