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Stick with a budget to avoid overspending.

A strategy to manage overspending

If you feel as though you can’t save money, you’re not alone — 54% of Canadians find it a struggle or impossible to save.1

To take back control of your finances, it may help to set a limit on your credit card spending for a while. This step can help you break out of the credit cycle. Here’s how to start:

  • Decide on a spending amount that you can comfortably pay off in full and on time when the statement comes in.
  • Log in to EasyWeb regularly to keep tabs on your balance and make sure you don’t overspend or miss making your payments.
  • Gather tips on reducing expenses to help you stay within your spending limit in a way that’s manageable and realistic for your lifestyle.

This strategy works best if you limit yourself to one credit card. When you set your spending limit, remember to take into account any annual fees that may apply to that card. If your card earns rewards, make sure the benefits are still worthwhile for you.

The TD Credit Card selector will help you determine if your TD Credit Card is still right for you.

1 TD Canada Trust 2011 Report on Savings, April 20, 2011.

Break out of the credit cycle and take control of debts, with this simple approach.

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