Zen and the Art of Credit Card Management

Our daily lives are caught up in working overtime, driving around the town, and feeding the kids – not to mention the daunting task of balancing our checkbooks and managing our finances. Keeping up with life can be overwhelming, a heavy burden which we do not want to carry.

And when it comes to sitting down each month to pay bills, your blood pressure rises, your body tenses, and there is a distinct ringing in your ears. It’s a very stressful time.

Relax. Take a deep breath. And read on to learn how to manage your finances without increasing your heart rate.

Set the mood and the routine

When it comes to pulling out all your credit card and other billing statements, set a routine that will put you in a relaxed state. Review your bills in an uncluttered area like your kitchen table or desk. Play some relaxing music, or even music that gets you “pumped up.” Setting an atmosphere can help you make better decisions, and you may even start to look forward to bill-paying time.

Be 100% in the present

To be Zen means to be in the present. Think about only what you are doing. Take one billing statement at a time. Always check for errors on your credit card billing. Write a check for the amount due (hopefully the full balance or at least more than the minimum payment due), and go on to the next statement. When you focus only on one billing statement at a time, the burden of many bills do not seem quite so overbearing.

What makes you happy?

Think about how you want your credit card statements to look. Do you cringe every time you see a finance charge or a late fee? Do you smile when you see a $0.00 balance on your statement? Think of what makes you happy about your credit card statement and utilize that philosophy every time you use your credit card.

If you know you will be happy to pay your credit card statement in full each month, think of this feeling when you prepare to pull your card out at the register to make another charge. Do you really need the merchandise? Can you live without it? What will make you happier: having the suede scarf to wear maybe three months of the year or paying your credit card in full? Remember, being in the present and living in the moment doesn’t mean you can ignore the future consequences.

Managing your credit cards can offer a challenge. The way you approach the challenge, whether to be happy or disappointed and stressed, can determine a successful management strategy. Practice the art of living in the moment when you use your card and when you pay the bill at the end of the month. Combining the moments to create harmony will make the management of your credit cards much more Zen.

Write to Grace Carter at grace@creditdonkey.com