Saturday, November 30, 2013

Choose your rewards carefully

Today's strategy is very simple.

Just about everyone uses a credit card. Most cards offer rewards, just make sure to pick the card that offers rewards that suit you the best.

It makes no sense if you have a credit card that gives you free airline miles but you never travel.

So, I searched up Google "best credit card rewards" and found the following link. It compares 10 different cards.

So, my favorite card is the Bank of America Bank of Americard.

I've had this card since 2012. The best features have to be the fact that you get a discount of EVERYTHING that you buy with the card.

You get a 3% discount on gas, 2% on groceries, and 1% on everything else. I know, you hear it in the commercials all the time.

Keep in mind, don't use the card irresponsibly. Don't be tempted to buy anything that you would not buy otherwise. Also, make sure to pay off that balance every month. The best way to use a credit card is to pretend like you don't have one.

Now, if you use the Bank of Americard for every purchase, and you spend $10,000 in a year. You have saved at least $100 that year.

Say that out of that $10,000, $2,000 was spent on gas. That is an extra $40 on top of that first $100.

Another added feature to the card is a deposit bonus. If you deposit the bonus money into your checking or savings, you get a 10% bonus.

$150 times 1.10 equals $154.

$154 savings over the course of one year. That might not sound like a lot, but keep in mind that you had to do nothing to save that money. The money that you spent was money you would have spent anyway. You might as well get rewarded for something you will do anyway.

Monday, November 25, 2013

Throw away your Iphone

This is the first post of my blog. This blog is going to be about different ways to save money.

With this first post, we will start out with saving money of your phone bill each month.

Go ahead and think about how much money you pay for your cell phone. A friend of mine said he paid about $100 a month for unlimited data, and 450 minutes. I guess this is typical for most people that own a smartphone.

A couple months back, I saw some plan advertised for unlimited talk and text for $50 a month. That's very cheap compared to my friend's plan but that still comes out to be $600 a year.

To me, cell phone plans always seemed overpriced. Eighty dollars of that contract is probably dedicated to playing angry birds or candy crush.

Contracts suck.

Before you get a new phone, decided what you really need or want. If you strip away the heavy features like internet and apps, its possible to get phone service for $10 to $20 a month.

I know, this may be difficult for most people to do, but there is a lot of money that can be saved here.

Switch over to prepaid phones.

I've used TracFone for the last three years and I've spent no more than $160 per year for phone service.

If you decide to make the switch, make sure to buy one of the phones that offers the triple minutes for life card. You get the most bang for your dollar that way.

These phones are also very easy to find. You can get them online, walmart, walgreens, and other places.

Eighty dollars will get you 400 minutes without any multipliers. However. If you have the triple minutes feature added, you get 1200 minutes.

One hundred dollars will get you 400 minutes and one year or service. So with the triple minutes, you get 1200 minutes and one year of service. You could get through one whole year just paying a phone bill once, well depending on how much you call people. You get 100 minutes a month.

I'm pretty sure that not everyone can deal with stripping out advanced features, but if you can, you can save a good amount of money each month.