Two card financial trick to simplify your personal finances

iStock_000000353216XSmallWarning: If you do not pay off your credit cards off at the end of the month.  Do not attempt this it could be hazardous to your financial health.

Are you looking for a quick and easy way to simplify your personal finances? Are you finding it difficult to establish a budget?  Do you wonder where you money has gone at the end of the month?  Do you wish you could write less checks or carry less cash?  If so, I have a solutions for you.  I call it the two card financial trick.

Here are the rules of the game.  Choose either one debit card and one credit card (should be a credit card with no outstanding balance), or two credit cards, or two debit cards (make sure the debit cards are linked to two separate accounts).  Its your personal preference which option you use.  My preference is to use one debit card and one credit card.

Once you have chosen the cards you will be using to play two card financial trick to simplify your finances, here is how it works.  Use your debit card to pay your everyday expenses and use your credit card to pay all of your monthly bills such as utilities and other recurring expenses.  There are several benefits to using two cards to simplify your finances.

Allows you to track all of your spending – Instead of having to remember to record your checks in your check register or having to keep track of your receipts when using cash this will be done automatically for you.

Helps you create your budget – Makes budgeting easier because everything is tracked for you.  Also enables you to know where and how much your spending.

Allows you to write less checks – By doing this you will not have to spend time each month writing out your monthly bills for your water, phone service, or any other monthly bills it will automatically charged to your credit card

Allows you to earn more rewards on your card – If you decide to use a reward card (which would be my preference) to pay your monthly expenses it will enable you to  earn rewards faster.

Helps to automate your personal finances – Having all your bills charged to your credit card will save you time each month.  Read Who else wants to save time, and have less stress when managing their personal finances to learn about the benefits to learning about benefits to automating your bills.

If your looking for a quick and easy way to simplify your personal finances consider implementing the two card financial trick strategy. Let me know if you think the two card trick would help you simplify your finances.