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In fact I log my credit card purchases on my checkbook ledger as well, in another column which I call “mental savings for Visa”, and subtract them from my running checkbook balance. No, the charges did not come out of my checking account at this point. I’m just declaring that money “spoke for” (by the Visa card). When the Visa bill comes in I add the “mental savings” back onto my checking account balance in my ledger, then use it to pay my CC bill. This way I never get “sticker shock” to my checking account when the CC bill comes around, because I have already allowed for it. Probably a wierd way of doing things but it works for my brain wiring 🙂
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quicken or mint.com is your friend.
The former is for old school people that don’t want your financial data to leave home. The later is for most generation X & Y’s who are use to using the internet to do everything. The former costs a nominal amount of money. The later is free.
