How to Use Credit Cards Responsibly

I’m a mom of two little boys, I’m a business owner and my partner also works full time, and sometimes going to the grocery store makes me want to cry. There, I said it. I started using Instacart more and more this past year, and finally decided to take the plunge and sign up for the credit card to get points back on my purchases. 

Opening up a new credit card can be a slippery slope, because of the temptation that can come with credit card usage. However, credit cards aren’t all bad, and there are ways you can use them to your benefit. 

It’s especially important to review your history with credit card usage before deciding to get another one. For example, I used to have $30,000 in credit card debt spread across 15 cards, so I set guidelines for myself (which I’ll share below) before I get a new card. 

Here are 3 ways to use credit cards responsibly: 

1. Only use the cards for 1 or 2 designated spending categories. I use my Instacart card for groceries, and my Travel card for, well, travel. This keeps me from thinking I have extra money to spend on other stuff. 
2. Pay the card in full every pay day. I get 5% cash back on both my Instacart card and my Amazon card, which is great, but would be WAY LESS than any monthly interest I could accrue, which is probably around 22%, so I never ever want to let that balance grow to more than I can pay off. Points are likely never going to be worth more than interest accrual. 
3. Stick to a meal plan (travel spending plan, etc.) My credit limit is like $24k (who needs that for instacart?! Nobody. They know you’re going to be tempted to use it for other things).

Bonus: "I remind myself that I’m a person who can use cards responsibly and be in control of my money. After all, “we’re all just little bunnies working through our issues.” ~ Jen Sincero

Do you struggle to use your credit cards responsibly? You’re not a bad person! We love you. You CAN develop good spending habits. Sign up with two weeks free to work with a coach on your relationship with money.