Are you making your savings work for you? Think about ways to earn free money. I am always crunching numbers in our family. Brian says that I am good with numbers. I believe it is a gift from God.
I can think back to when I first starting saving, I was in 6th grade. I remember my grandparents would give me money almost everyday. I would ask for money because in 6th grade I walked home from school and stopped at the corner store everyday. Well, I would not spend all the money. I would save some of the money to buy Christmas gifts. I continued to do this until I was in 11th grade. Maybe, it was not right but it did teach me discipline with saving money.
I am thinking about savings because it is Friday. Every Friday is payday for me. I pay myself a pay check after I pay the people who work for me first. Well, every Monday I have a fix amount transferred to our Christmas Club account. I have a Christmas Club because our bank gives us free money for having one. Yes, you are reading right. You see the Christmas Club account is active for 50 weeks. Well, my bank will pay our 50th week contribution instead of us paying it. So, that is how we make free money.
We receive free money from our credit card company too. We accrue points when we use our credit card. We pay our credit card balance off at the end of the month, so we don't pay a single penny in interest to our credit card company. We have been doing this for the past 8 years. So, around November of every year, we cash in our points, and receive about $300 in gift cards. We give these gift cards as gifts for Christmas.
We also have a couple of store credit cards that we use. We will make big purchases with them and will pay them off before the promotion date ends. So, we don't pay any interest to the credit card companies.
You really have to have a plan before you start charging. Can you afford to make monthly payments? Will you have the discipline to payoff the balance before you are charged interest? When you do charge, you need to stay within your means... I mean you should not charge more than you can handle paying off every month. Do you have a budget? A budget will tell you what is your limit that you can spend. I don't see anything wrong with using credit cards, to your advantage. I think it is all about discipline. Maybe look at it this way, what can the credit card company give me for using their card.
Do you have an emergency fund? Everyone needs to have one. It is amazing what you can save. You need a plan, you need discipline, and apply effort. I hope this info can help someone.
I can think back to when I first starting saving, I was in 6th grade. I remember my grandparents would give me money almost everyday. I would ask for money because in 6th grade I walked home from school and stopped at the corner store everyday. Well, I would not spend all the money. I would save some of the money to buy Christmas gifts. I continued to do this until I was in 11th grade. Maybe, it was not right but it did teach me discipline with saving money.
I am thinking about savings because it is Friday. Every Friday is payday for me. I pay myself a pay check after I pay the people who work for me first. Well, every Monday I have a fix amount transferred to our Christmas Club account. I have a Christmas Club because our bank gives us free money for having one. Yes, you are reading right. You see the Christmas Club account is active for 50 weeks. Well, my bank will pay our 50th week contribution instead of us paying it. So, that is how we make free money.
We receive free money from our credit card company too. We accrue points when we use our credit card. We pay our credit card balance off at the end of the month, so we don't pay a single penny in interest to our credit card company. We have been doing this for the past 8 years. So, around November of every year, we cash in our points, and receive about $300 in gift cards. We give these gift cards as gifts for Christmas.
We also have a couple of store credit cards that we use. We will make big purchases with them and will pay them off before the promotion date ends. So, we don't pay any interest to the credit card companies.
You really have to have a plan before you start charging. Can you afford to make monthly payments? Will you have the discipline to payoff the balance before you are charged interest? When you do charge, you need to stay within your means... I mean you should not charge more than you can handle paying off every month. Do you have a budget? A budget will tell you what is your limit that you can spend. I don't see anything wrong with using credit cards, to your advantage. I think it is all about discipline. Maybe look at it this way, what can the credit card company give me for using their card.
Do you have an emergency fund? Everyone needs to have one. It is amazing what you can save. You need a plan, you need discipline, and apply effort. I hope this info can help someone.
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