Manage Your Credit Cards Wisely
While visiting John Chow.com today I saw this article, Why You Should Never Pay By Cash and it reminded me of one of my posts on Other Peoples Money, Manage Your Credit Cards Wisely. It's always nice to know other's think like I do.
When you manage your credit cards wisely it is a hugh saving to any household budget and you can make it a fun challenge!
I know many of you are going to argue the point about having and using credit cards but if you choose the right credit card, one that will give you a "cash back reward" for just using it, why not? Of course you still need to spend responsible and in accordance to your income but these are all things that you would have purchased anyway so why not reap the benefits of using a "cash back rewards" credit card. I think this is a no brainer and that's why I call this using "other peoples money. I know it is only for a period of time (usually 30-45 days) you can have it "free" of charge but that's the money game you play to earn a "cash back reward".
You will now be able to track online a summary of all your expenditures and this will or should encourage you to start budgeting your spending. I find that when I carry lots of cash on my person that it can disappear and I may not remember where or what it was spent on. Yes, we all need a certain amount of emergency cash on hand but if you will remember to use your credit card wisely for everything you buy this will maximize your "cash back reward" at the end of the year, called a rebate check.
WORD OF CAUTION ********** This method of charging everything will work best if you pay your credit card in full each billing cycle otherwise you are paying the credit card company a monthly finance charge and we don't want to do that. :)
When you manage your credit cards wisely it is a hugh saving to any household budget and you can make it a fun challenge!
I know many of you are going to argue the point about having and using credit cards but if you choose the right credit card, one that will give you a "cash back reward" for just using it, why not? Of course you still need to spend responsible and in accordance to your income but these are all things that you would have purchased anyway so why not reap the benefits of using a "cash back rewards" credit card. I think this is a no brainer and that's why I call this using "other peoples money. I know it is only for a period of time (usually 30-45 days) you can have it "free" of charge but that's the money game you play to earn a "cash back reward".
You will now be able to track online a summary of all your expenditures and this will or should encourage you to start budgeting your spending. I find that when I carry lots of cash on my person that it can disappear and I may not remember where or what it was spent on. Yes, we all need a certain amount of emergency cash on hand but if you will remember to use your credit card wisely for everything you buy this will maximize your "cash back reward" at the end of the year, called a rebate check.
WORD OF CAUTION ********** This method of charging everything will work best if you pay your credit card in full each billing cycle otherwise you are paying the credit card company a monthly finance charge and we don't want to do that. :)
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