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Tue 17 Jul, 2007 10:59 am
I'm always looking for ways to cut back and save a few bucks. Linkat mentioned credit card points on another thread and got me thinking about how great these points things and such are.
I earn points from using my credit card (I pay the balance every month) and other things like my Shoppers Optimum card (drug store points), which I have earned enough points on alone to get $100 worth of free stuff.
I earn points every time I fill a prescription, gas up, use my credit card (double points if I use it at specified service station) and I'm also a member of my local grocery store, where I earn actual $ every year just for buying my groceries and I get an increased discount on all sale items.
I think this is so cool and I was wondering what little tricks you guys have up your sleeves to save your hard earned $.
save your glass and thick plastic containers .
You can use those for food storage in your home and not have to buy zip lock baggies, paper bags or other small plastic tote boxes.
Montana
I don't get points for using my credit cards, I get $. I also pay the balance in full every month on my bill. Last year I earned over $1,500. Some credit card companies got smart though and put an upper limit on what someone can earn
I edited this btw to make a change
Pay cash for everything and try not to use credit cards at all.
You budget a lot better if you deal in actual cash. Even when you
pay off your credit card at the end of the month, you're most likely
spending more money this way.
C.J., someone once told me that if you couldn't pay cash, then you couldn't afford it. I just don't like carrying large sums of money around, and credit cards are a convenience, honey. I don't care about points, etc.
Good thread, Montana.
CalamityJane wrote:Pay cash for everything and try not to use credit cards at all.
You budget a lot better if you deal in actual cash. Even when you
pay off your credit card at the end of the month, you're most likely
spending more money this way.
I only use the credit card for things I would pay cash for. I charge everything I can if no fee is involved like the cable bill, phone bill, gas (which I get at Safeway-recently I got .19 cents off per gallon), grocery at Safeway (where I earn miles so I end up not having to pay for a lot of the flights I take). I also use coupons for items I would buy at the grocery store anyway. I then call a few people who I know don't use the brand I use and get their coupons. There have been a couple times I didn't have to pay for the groceries, in fact the store ended up paying me
I buy everything on credit cards too, for the points. I don't buy more stuff just because I'm not using cash.
I often hear that, about being more likely to spend more, but I wonder how true that is. I've never actually heard somebody tell me they've done that. Sometimes I stock up if it's an item I use on a regular basis, but that just means I spend less on that thing the next month.
I mean for the card that someone uses for monthly expenses, that gets paid off every month.
I do carry credit card debt, like when I bought my last car, I immediately paid it off with a credit card offer to transfer the balance with no fee, and 0% interest for a year.
I've also heard the cautionary tale of moving balances around for various offers, and how that effects your credit score, but I haven't seen proof of that either. I have been transfering balances for about 15 years from one card to another for a 0% for a year here and 0% for 18 months there. I think I've only paid a transfer fee of like $59 once, twice at the most, and am sure I have not paid more than $100 of interest in all those years. Probabaly closer to $50. The oldest credit card I have, since college days, I used for a big transfer a few years back...0% for the life of the balance. I don't carry that card around with me so I won't use it by accident. I have 2 other balances at 0% for the life of the balance, one for me, one for Mr. Tea, as long as I make 2 purchases a month on each of those cards. So, at the beginning of each month, I use my card to make 2 purchases of $2.00 of gas, same with his....I'm paying less that $5 a month total interest on that, and will be the next cards I pay off.
This spending wasn't for running out and buying clothes and vacations. It was for a car and remodeling our house, both of which we had to do.
I want you to be my accountant..
As far as buying new clothes, I go to the department store and if they have a large stock of the item I want in my size I leave and wait for a sale. I hardly ever buy new clothes though because my old clothes still fit and they aren't worn out.
I did need to buy a formal dress one time. I went looking and found the dress of my dreams. It was perfect, it fit me like it was made for me.
They only had 1 in my size but the good news was it was on sale, so I bought it. Then I kept track of the advertisments in the newspaper and they had another sale. I took my receipt back and the store adjusted the price. Then the next week was another sale. So, I took the receipt back and they adjusted the price again.
That same dress was in a different dept. store earlier this year for over $400
I ended up paying $64 plus some change.
CalamityJane wrote:Pay cash for everything and try not to use credit cards at all.
You budget a lot better if you deal in actual cash. Even when you
pay off your credit card at the end of the month, you're most likely
spending more money this way.
I guess it also depends on how much self control you have.
However, if you use your credit card for necessities rather then extras it works. If you want a special night out, for example take out your budgeted cash and then use that. If you pay your regular bills and other normal expenses - gas, grocercies, etc. and not the extra perks.
I refuse to pay interest for a new car unless the interest rate is under 1%.
I don't do the credit card balancing act, but I know people who do. Chai, moving balances on credit cards has had no impact to their credit score.
Write down everything you spend in one month. You will be astounded at what you spend your money on and how much you spend on things you don't need.
When you want to go out for a few drinks - deck yourself up - go to a bar that usually has lots of desperate men. Sit your self down, buy yourself one drink and from there men will ask you if you want a drink.
Then when you are ready to leave excuse yourself to the ladies room and sneak out (otherwise they try to get pay back for the drinks in other ways).
When you need big ticket items, look for used ones in good condition on craigslist. We bought a pretty nice bed that way and are currently looking there for a dining table.
Bella Dea wrote:Write down everything you spend in one month. You will be astounded at what you spend your money on and how much you spend on things you don't need.
I have essentially done that in Quicken since 1995 and then analyzed the reports. It is real interesting, to me anyway, to see the changes per year. The reports are very informative.
shewolfnm wrote:save your glass and thick plastic containers .
You can use those for food storage in your home and not have to buy zip lock baggies, paper bags or other small plastic tote boxes.
Yup yup, been doing that for some time now. I'm one of those "lets do what we can for the environment" people :-D
Thanks and am glad you do the same ;-)
TTH wrote:Montana
I don't get points for using my credit cards, I get $. I also pay the balance in full every month on my bill. Last year I earned over $1,500. Some credit card companies got smart though and put an upper limit on what someone can earn
I edited this btw to make a change
Cash is good. I get that from my grocery store membership :-D
CalamityJane wrote:Pay cash for everything and try not to use credit cards at all.
You budget a lot better if you deal in actual cash. Even when you
pay off your credit card at the end of the month, you're most likely
spending more money this way.
All depends on how responsible a person is and how able they are to control these things, I think.
I pay cash for most things and I use my card for other things that I need. It's very rare that I spend money needlessly, so paying the bill at the end of the month is never a problem.
I also have a credit line, which I only use for car and home repair and that is when needed as well. This one I make monthly payments on, but I do throw in more when I can. Have to pay that sucker off so I can do other stuff in my house :-D
Letty wrote:C.J., someone once told me that if you couldn't pay cash, then you couldn't afford it. I just don't like carrying large sums of money around, and credit cards are a convenience, honey. I don't care about points, etc.
Good thread, Montana.
Thanks, Letty :-D
Points are great, though. I chase those suckers everywhere
TTH wrote:CalamityJane wrote:Pay cash for everything and try not to use credit cards at all.
You budget a lot better if you deal in actual cash. Even when you
pay off your credit card at the end of the month, you're most likely
spending more money this way.
I only use the credit card for things I would pay cash for. I charge everything I can if no fee is involved like the cable bill, phone bill, gas (which I get at Safeway-recently I got .19 cents off per gallon), grocery at Safeway (where I earn miles so I end up not having to pay for a lot of the flights I take). I also use coupons for items I would buy at the grocery store anyway. I then call a few people who I know don't use the brand I use and get their coupons. There have been a couple times I didn't have to pay for the groceries, in fact the store ended up paying me
Yup, coupons are my friends as well and they always keep my wallet warm while I'm shopping.
I pay all my bills with cash and save my credit card for every day needed stuff like gas, food, etc....
Maybe I'll start paying my bills with the card as well. I can't think of any reason why I shouldn't and I'd get a ton of points by doing so.
I think I'm gonna go for it. More points, more gas when I have to go work 45 minutes away in the city
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