Thursday, June 11, 2015
Making Money with a Credit Card
This is what I do-each quarter, my card offers a 5% rebate on anything I buy at certain stores. One quarter, it was my grocery store. During that quarter, I paid for all of my groceries with my card, but, I only spent what I had budgeted for groceries each time. As soon as it registered on my card, I paid for it. I use the card for anything that the rebate is for IF that item was already in my budget. I refuse to buy things just to get the rebate; there is no winning when you do that!
I also use my card for anything that is expensive. For example, travel expenses for a trip can reach a couple thousand dollars. I save the money before the trip and then pay off the card from time to time, even while we are traveling. When I need to buy something big for work that I will be reimbursed for, I pay for it with my credit card and turn in the receipt right away. I only do this because I know how fast I will be reimbursed.
To make it easy, think of it this way-the key way to make money with your credit card is to have a budget-a budget you follow. Already having the money makes it easy to pay it off. Don't wait for the end of the month statement. Pay it off as you go. I did that this last year and made an extra $100 for our vacation savings.
Using my credit card wisely is just another way to live daily on less!
Photo credits: Three Credit Cards by Petr Kratochvil