Best Way to.....

[FairestOfThemAll37]

I tried the change jar thing to trick myself into saving some extra money for splurging (I ended up splurging anyway lol), but I found that trying to have cash on hand was a huge PITA for me and I'd rather earn cc rewards than collect change.

Everybody has to do what works for them.

I've read a lot lately about credit card 'churning' I think it's quite lucrative if you can manage it.

 

[misskari]

I'm looking into getting a Southwest airline card... Spend either $2K or $3K (can't remember) in 3 months and get 50,000 points. That's enough for a few airline tickets

 

[Missymouse18]

I haven't tried it yet, but am planning to for next summer's trip... the Disney vacation account. Google it. I am pretty sure it's legit. Basically you set up a savings account with Disney and you deposit as little or as much as you want. You can put savings in it for up to 5 years. You can use it at any time to pay on a trip, or you can even withdraw it at any time with no penalties.

 

[AshtonsMom99]

I am a SAHM because of my cardiac condition, but I sell Scentsy and Disney travel stuff, and I am in no way advertising that...just making people aware, but it always seems that any money I do bring in...which isnt alot seems to find its way into my hubby's coffee addiction. FAIL! So I am thinking that a good move to make would be to get my own separate account to ensure that we have money for spending and booking trips. The bills are never in danger of not being paid....thankfully.....

Thanks for the suggestions everyone....Any idea on the best type of savings account to get?

 

[StephMK]

These are all great suggestions....we do have a change jar, but I swear it seems like it's always empty because my hubby likes to dip into it for the vending machines at work.... All of you married folks...Do you think its ok for me to have a secret change jar that he does not ever see? Or is that being dishonest? My husband and I are very tight and very happy, and we try not to hide things from each other....but this is something I feel like I need to do in order to make any headway.....Thoughts?

I think it's ok because it's money you are setting aside to be enjoyed by both of you. It's not like you're siphoning off money for your own purposes. I do know women who take part of their pay and put it in their own secret savings account as a "just in case". I agree with them based on their specific situations but think in general, it's important to be honest and open.

I am a SAHM because of my cardiac condition, but I sell Scentsy and Disney travel stuff, and I am in no way advertising that...just making people aware, but it always seems that any money I do bring in...which isnt alot seems to find its way into my hubby's coffee addiction. FAIL! So I am thinking that a good move to make would be to get my own separate account to ensure that we have money for spending and booking trips. The bills are never in danger of not being paid....thankfully.....

Thanks for the suggestions everyone....Any idea on the best type of savings account to get?

We are getting a savings account at our local credit union, which is separate from our other accounts at DH's bank. I think having it separate and not linked will help the money stay in there. We will at least have to think about it and make an effort to get it out, kwim? I know ingdirect was a popular savings spot years ago but not sure if they are still active or a good choice.

When we link them in the same place, it's too easy to move it around. We have had a lot of repairs in the last year or two and need to build up our savings now that things have hopefully calmed down.

Thanks for starting the thread OP - it's always good to get new ideas!

 

[ellochka]

I tried the change jar thing to trick myself into saving some extra money for splurging (I ended up splurging anyway lol), but I found that trying to have cash on hand was a huge PITA for me and I'd rather earn cc rewards than collect change.

Everybody has to do what works for them.

I've read a lot lately about credit card 'churning' I think it's quite lucrative if you can manage it.

I agree! My Achilles heel is coupons. I am an organized person, and I am good at math, you would think I would do well with them? No way! They are either for something we don't buy, or I never get to actually swipe them because they expire too soon, because I forget them, or the combination of thereof. I bet I have saved less than $10 with grocery coupons all my life.

I can do online promo codes, online rebates like Upromise or Ebates, but credit cards are the best for me I have gotten over $500 back from CapitalOne, and I have had the card with them for ~2 years (also, saved over $400 in international transaction fees). And we don't even use this card for everyday purchases...

 

[kbmartin]

I just did this today as a way to save... I am paying off my trip by using Disney gift cards. I purchased them from Target using their Red Card - you save 5% on everything, including DISNEY GIFT CARDS! They only had $50 cards, so let's just say I bought a LOT of gift cards! I saved over $90 just on our hotel reservation and park tickets. I'm going to purchase more gift cards closer to our trip for food, souvenirs, etc. so our savings will be even greater. My DH and I just bought a house, too, so right now, every penny counts. $90 is a lot to us at this time, so it was worth it!

Just as a note... at first when I got to the registers, I confirmed with the cashier that I would receive 5% off of the gift cards. She said, "I don't know... let me ask a manager." The manager said, "No, no - that won't work." I mentioned that a different Target manager had told me a few days prior that it would work. She responded, "Well, that is changing - that won't really work much longer." After she walked away, I asked the cashier to just try one of them to see if it worked at all. It did, and the cashier then rang the rest of them up. If you're going to do this, do it soon - this might not be a thing for much longer!

 

[Happyjen27]

Thanks for the suggestions everyone....Any idea on the best type of savings account to get?

Unless you are in the $100,000 account league, almost all savings accounts are giving such low interest, it doesn't matter which you get. So, I would go with whatever is convenient, like at your own bank already, or a bank you wish to do business with.

 

[Nayan]

I'm looking into getting a Southwest airline card... Spend either $2K or $3K (can't remember) in 3 months and get 50,000 points. That's enough for a few airline tickets

I just don't get this. Maybe it's because I am very frugal but how is it a good deal to spend $2-$3k in 3 months to get airline tickets? Why not just save that money and buy them?

 

[mrsabbott]

Hubs has a savings but he doesn't have a card to it. He actually has to go in the bank and withdraw money from it. He did this on purpose because he knows his tendency to nickel and dime (he's coming around!) and so if he wants money for something specific (race tickets or whatever) then he has to plan to go to his bank, get the money, deposit it into our account, and then buy whatever he wants..

I am going to do something similar, only this will be strictly vacation savings. It has to be separate from our everyday account because I will find myself spending it on a bill or groceries or gas or something without thinking..

BTW.. you don't need to sneak and do this.. just tell your husband that you are setting up a vacation account. Who knows? He might get in the spirit and add to it!

 

[mrsabbott]

I just don't get this. Maybe it's because I am very frugal but how is it a good deal to spend $2-$3k in 3 months to get airline tickets? Why not just save that money and buy them?

I know people who use credit cards for everything (bills, groceries, etc..) and then pay them off when they get the bill. They collect the reward points this way.

 

[matdamom]

My husband and I have 2 checking accounts, one for all household expenses and the other for everything else (school stuff, eating out, etc). Both accts have a automatic $1 added to each purchase when we use our debit cards, both online and swiped at the store. These extra dollars go straight into a savings account. We don't dip out of these accounts unless we need to for emergency (new tires, medical bill). It adds up since we rarely ever have cash on us.

Also, in my job I get the occasional cash tip. Anything over and above what my husband needs for the commuter bus ($1/day) goes into the vacation jar. Sometimes it might be $1 for the week, sometimes $5. My middle child confiscates all change for the vacation jar also, and hides it in her room. Otherwise, DH would rob it for bus fare.

 

[bbak3030]

I just don't get this. Maybe it's because I am very frugal but how is it a good deal to spend $2-$3k in 3 months to get airline tickets? Why not just save that money and buy them?

I recently got this credit card. We have already put the required 2k on the card to get the 50,000 points. It's money we would have spent anyway. We just pay the card off at the end of the month. Doesn't cost us anything.

 

[Judique]

I just don't get this. Maybe it's because I am very frugal but how is it a good deal to spend $2-$3k in 3 months to get airline tickets? Why not just save that money and buy them?

There are certain things that need to be purchased anyway. I don't think that anyone is just going to run out and spend a frivolous $2000, but I guess that could happen.

In our case we used the card for gas and tires and groceries. Groceries also for us would be $600 a month. Not such a stretch over a 3 month period. My car alone is about $250 a month in gas. Tires were over $800.

 

[Nayan]

Ah, okay . I do not use credit cards (I deal with cash-only) and I do not fly but it makes sense for those who do.

 

[AshtonsMom99]

Ah, okay . I do not use credit cards (I deal with cash-only) and I do not fly but it makes sense for those who do.

We have been a cash only family since we have been married. We just recently started using a credit card, and only one that gives cash back. We rarely use it, and when we do...we pay it off right away. It's nice to see the cash back accrue but I am always afraid to use "free" money because I am afraid of the catch. Am I the only paranoid one?

 

[Happyjen27]

We have been a cash only family since we have been married. We just recently started using a credit card, and only one that gives cash back. We rarely use it, and when we do...we pay it off right away. It's nice to see the cash back accrue but I am always afraid to use "free" money because I am afraid of the catch. Am I the only paranoid one?

It's smart to be cautious, of course.

Credit card companies make money on each transaction from the vendor as well as interest from people who carry a balance month to month. So, even the customers that pay their balance each month are making money for the card by the fees that stores are charged.

If you have the self control and the restraint and accounting ability to use a card and pay it monthly, you can make a pretty penny on perks. Real, usable perks. I use Discover card, and they give me cash to apply to my balance, they will cut me a check. I even buy stuff on amazon using my discover points dollar for dollar. No catch.

I'm not sure about those other cards, the airline perks, etc. We only use Discover because I like the cold, hard cash, yo.

 

[Nayan]

We have been a cash only family since we have been married. We just recently started using a credit card, and only one that gives cash back. We rarely use it, and when we do...we pay it off right away. It's nice to see the cash back accrue but I am always afraid to use "free" money because I am afraid of the catch. Am I the only paranoid one?

Nope! I refuse to use credit for general purposes and only have a secured card with a very small amount ($250) which is just enough to reserve a room or campsite. My mantra has always been 'if I do not have cash in hand to buy it I don't'.

 

[artemis4]

We have been a cash only family since we have been married. We just recently started using a credit card, and only one that gives cash back. We rarely use it, and when we do...we pay it off right away. It's nice to see the cash back accrue but I am always afraid to use "free" money because I am afraid of the catch. Am I the only paranoid one?

Nope, not the only one. We use a perks cc, and I pay the balance in full every week. I too enjoy watching the perks grow, but it doesn't feel totally real. It's like earning free hotel night points, which we do through hotel stays and affiliate shopping links. We've used them for free night stays, and it always feels weird to stay but not pay.

 

[misskari]

We have been a cash only family since we have been married. We just recently started using a credit card, and only one that gives cash back. We rarely use it, and when we do...we pay it off right away. It's nice to see the cash back accrue but I am always afraid to use "free" money because I am afraid of the catch. Am I the only paranoid one?

I'm all about fiscal responsibility, but I put every purchase on cc's and pay it off every month in full. I would be wary of using cash only due to the fact that you're not building good credit history. So when it comes time to buy a house or a car you will have had good credit history = lower interest & better terms. Having no credit history is the same (to the lending companies) as having bad credit history.