Payment routine for score maximization

[luxeprw9]

---

@medicgrrl wrote:

I have my statement dates listed on my budget as the due date.  I pretty much micromanage my accounts right now because I'm rebuilding.  Next Spring, after my last derog falls off, I'll quit worrying about it so much.

---

Me too and it's exhausting!  I can't wait until my CH13 falls off next year so I can stop the micromanaging!!  LOL!!

[medicgrrl]

---

@luxeprw9 wrote:

---

@medicgrrl wrote:

I have my statement dates listed on my budget as the due date.  I pretty much micromanage my accounts right now because I'm rebuilding.  Next Spring, after my last derog falls off, I'll quit worrying about it so much.

---

Me too and it's exhausting!  I can't wait until my CH13 falls off next year so I can stop the micromanaging!!  LOL!!

---

I am right there with you!  How early can we ask for EE on that Ch 13?  I'm so worried about AA right now.  

[medicgrrl]

---

@Anonymous wrote:

Thanks, everyone, for the input. Very helpful.

To those who pay off all or all but one before the statement cuts, there is no magic way to do this, is there? You do it manually, right? Some of you have like 30 cards, seems taxing. 

Another noob question: how do you let the card report a balance without paying some amount of interest? Don't we get finance charges once the statement cuts?

---

People don't actually use all of their cards every month.  I use 2 of mine.  It's just listed on my budget and 2 a month when I pay bills, they get paid just like any other bill.  Instead of listing the "due date" on my budget as the due date listed on my statement, I list the "due date" as my statement date so it gets paid accordingly.  I have one card that I actually want to report a balance so I list the actual due date on that one on my budget.  It's really not to much trouble budget wise.  

[HeavenOhio]

To add to what SouthJamaica has said, any reporting statement balance should come from new charges. You don't have to pay interest to report a balance.

[Anonymous]

Wow, learning a lot, thanks all.

Now.. this budget thing you all keep mentioning..

Mine is just a list of my monthly bills. You guys seem to incorporate dates.. how do you do your budgeting?

[HeavenOhio]

---

@Anonymous wrote:
Mine is just a list of my monthly bills. You guys seem to incorporate dates.. how do you do your budgeting?

---

Almost everything is autopaid on credit cards. The exceptions are:

• One monthly utility bill that autopays straight from checking because they don't accept cards.
• One triannual utility bill that I pay manually through my bank's billpay because they don't do any type of autopay or electronic transfer
• Condo association fees through bank's billpay, manually every six months
• Car insurance which I prefer to pay manually every six months; I generally use cards, sometimes PayPal
• Netflix/Hulu, autopay through PayPal

That way, it gets pretty simple. Most of the work is to monitor my checking and card balances to make sure there's money in checking to cover the cards. And I watch to make sure the autopays show up on the cards.

I keep a list of autopays so I know the approximate dates to expect them to go through. But more importantly, I can refer to that list when I have to update my autopay information, usually because of changes to my card expiration date.

[medicgrrl]

---

@Anonymous wrote:
Wow, learning a lot, thanks all.

Now.. this budget thing you all keep mentioning..

Mine is just a list of my monthly bills. You guys seem to incorporate dates.. how do you do your budgeting?

---

I just use a notebook to write my  budget.  Mine basically is just a list.

Rent   1075   5/1

Car       450   5/13

Ins         82  4/25  D

CC       500 4/15 (this date is the actual statement date so I know to pay it by that day)

I list who I owe, the date it is due and if it is drafted I put a "D" next to it.  I put one checkmark next to it when I pay it and a second checkmark when it has cleared my bank account.  I get paid every two weeks so sometimes I will either put a 1 or a 2 next to it so I know which paycheck I'm going to pay it out of.  I use my credit card for all of my purchases and give myself $500  to spend each month so I just do a line item for my credit card at $500 for my food/groceries and misc.  I can quickly see on my credit cards app how much I've spent and how much I have left in my $500 for the rest of the month.  Anything above what is left out of my paycheck goes into savings for the next payday.

Everyone finds there own way to write up their budget, there is no right or wrong way.