How to Budget (and Gain BIG BENEFITS with Credit Cards)
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- เผยแพร่เมื่อ 15 ต.ค. 2024
- Is it possible to own credit cards and keep a budget at the same time? We love the benefits of credit card points while still making sure we tell our money where to go. Let's find out how!
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I agree with you100%. We are Australian, living in India- if you don’t have a CC here you can’t book a lot of hotels. It’s nuts. So we have 1 (from 3), and now pay off the balance every month. It’s also a great way to teach our 3 teenage sons- the more we spend, the less we have next month!
So interesting! Someone else commented that their country hardly uses cards. (:
Exceptional!!! Your advice is very straightforward and concise. Looking at it from our senior life style point of view...we are debt free. Now we put everything we can through our main credit card. Work those points! We use them for our vacations and travel.
Good for you! So happy for you!!!
Wish I understood this better. We just retired and debt free but never knew best cards for rewards.
This is very helpful! I appreciate you sharing!
I love the variety of your videos, enjoyed this one as well even though I don’t have any credit cards ☺️ (not as big a thing in the Netherlands, most stores don’t even accept them here). My husband has one for our occasional holiday to the USA 🙂
Thank you! That's interesting cards aren't a thing there! Here cash is almost the rarity
Great Video! I personally Love the 2 percent back cash reward credit cards. That is the way to go! If people don’t do much traveling.
I found this video very fascinating 😃 I love that you brought out the point of using the cc as though it is money in the bank; DO NOT spend money you don’t have! I find in many ways it’s safer to use credit cards for purchases, as you have a document trail and protection in case of theft (e.i. call the cc company as soon as you notice a theft purchase-they cancel the purchase & card and issue a new one right away) whereas if you lose $500 cash, that money is history before you even notice it’s gone.
And as for the bank accounts, I’ve never heard of Jordan Page before but I’ve been doing the 7 bank account method for over 2 years and absolutely love it!! 😆
I agree about the paper trail. I love that as well. And that's funny! First time I heard of it was Jordan Paige!
This is such a great topic. My hubby and I don't use credit cards- we did, even used them wisely, but then things happened and we weren't wise.
Your golden statement was that you have got to use them as a debit card.
I am not a Jordan Page subscriber- I've watched several videos here and there, and while I think the bank accounts would work for most, I think it would fluster my husband. We both know how to do the finances, but if I don't take my time, I transpose numbers and it's not pretty. So he handles it.
I think what you've done is straightforward and you have made the system work for you.
Thanks for the great video!
Yes each person needs to do what works best for them! And it's not the same for everyone.! Best of wishes!
Thanks for sharing all these tips and information. Staying out of debt is key to more happiness in a marriage. Mortgages, vehicle debt are necessary sometimes but need to be paid as quick as possible. Love your top today btw
Very true! And thank you!
Just found your channel and found it curiously refreshing. My aunt told me many years ago that there was nothing wrong with having a credit card as long as you maintain a zero balance at the end of each month, I found this quite helpful and sensible.
Thank you. I'm honored to have you here!
In your mind think of the CC as a debit card! YES! Excellent advice!! Thank you!
Curious to know more about your Amazon businesses.
Excellent video. Thank you for sharing.
I employ some of the strategies you recommend. I also have no problem using credit cards with parameters. I never carry a balance unless it's a "once in a lifetime" emergency. It's really cool that you get to travel using these methods. Well done!
Thank you and Good for you!!!
I learn so much form you! THanks for sharing with us!
Thanks for the helpful tips on budgeting!😊
Great advice.
Love what you're wearing.
I am a fan of most of Dave Ramsey's philosophy to debt free living, but I do not use cash. I too have credit cards that pay me! Sometimes I feel like I'm cheating because I never carry a balance so they have lost a lot of money to me. I tend to use certain credit cards for certain things. I use a BP Visa for all my gas. It reduces my cost by 10 cents per gallon. I use the Amazon Chase card for all of my Amazon purchases (a lot!). I use one card for overseas travel because it doesn't charge you an exchange fee for each purchase in another currency. Just a few examples. Good topic.
That's great! Sounds like you have it nailed down!
Great tips! Thanks for sharing it is so helpful!
Such an interesting video, Jeanine. Thank you. Online ordering/grocery pickup is an easy way to know I'm spending within my grocery budget. I'm going to tell my husband about that credit card! It looks amazing.
I want to do more of that, too. Grocery pickup would be a big help!
Hello, I’ve not been on for a little while, so it is really good to watch one of your videos, a very interesting and helpful video, I might add. I must say you look really well. I completely understand the credit card system, as it works for me. Have a lovely day, keep safe and be lucky 💞💞💞
Thank you and have a lovely day!!!!
Morning, My volume isn't working today, but I like the different wardrobe look, looks good on you.
Thank you!
Great share!! Thank you for making me feel normal having about ten accounts :)
Thanks for the info on credit cards. I’m debt free and use my bank accounts as ‘envelopes’ and my debit card to pay (transferring money into the paying account as I need it). I have an offset account for where incoming funds are transferred immediately as it is not accessible via my debit card, so if I am hacked again etc, there’s nothing to steal. I also do this with my bank that has all my outgoing accounts, one that pays out and sits at a couple dollars till used. Have a great weekend! 🌷
I love hearing this! Good for you! I completely related with all you said!
Not gonna lie, this is a bit confusing for me lol. I'm just a cash type person. Glad it works for ya, interesting to find out what other people do.
Yes!! The video I w been waiting on!!☺️
You look so pretty. Your top is very becoming.
We struggle because of my stroke which led to other health problems and me having to retire. It used up our savings really quick.
I'm sorry to hear that. Health is a real struggle
I would end up with such a mess if I did that system! I'm glad it works for your family and it sounds like you really make your cards work great! I don't think I have that skill set. I know so many people that have gotten into debt they will never be able to dig their way out of by using credit cards for all the things they want but can't really afford. I'm afraid to risk it!
I understand. Everyone has to know what they enjoy and want to manage.
We found it on you tube randomly scrolling around it hade your pic on it but it was some one else talking
It’s good to see young people who live within their means, I’m guessing you both were taught well as we were. We never had a Budget but were both taught to work hard and not spent what we don’t have!! It meant starting out very meager but it definitely paid off for us. I’m thinking you’d have to be very determined to pay off your credit cards every month(we do too, I only have 1,my husband has several for our businesses but he always always made sure they were paid on time) but if someone was not as responsible in that it could prove to be a disaster to have that many.
Yes very true. If there's one thing I can't stand it's unnecessary spending like fees and fines. So not paying in time isn't an option unless we Happen to forget (rarely) or maybe an emergency comes up.
Great video! I love the out of debt way of life! I do use cc and keep them paid off. Thank you for all this great advice. I've not thought about some of these ideas. You look like you feel so much better. Praise God. Love your channel.
Thanks for being here! Out of debt life is Def best!!! God bless!
How are you doing JEANINE I hope everyone is doing well this video is awesome it’s very interesting you always bring us a variety I like your budgeting method I miss not seeing Xander he’s such a joy have a wonderful fourth and thank you for sharing this video👍❤️
I'm doing well thank you!!! Sorry Xander wasn't in this one (:
I understand what you are talking about. It's doable. However I know that I am just not consistent over a period of time. I will sabotage my own budget.
I can set this up, & I'll be motivated for months ... But you say to do my best to stay in my plan ... My best is not reliable, I will eventually decide I can slide for a month & catch up next ... But I'm not as consistent as you.
I can't have credit card. It's taken me 15 years to clean up my credit record to above 700 points again. I know myself, I am saying this so folks will take their own personality into account.
SO ... I have a debit card & a savings account. I write out my monthly budget & I pay everything at the beginning of the month, tithe first. Then I have a food, medical, supplements, & gas allotments.
It's good when we know what our personality is and what we can best manage.
Yes! We always use a credit card like a debit card! We also get cash back😁
You are on a good path because you have a system. When I was younger my W2 came in and I said where did all the money go? I recorded for a month what I spent money on. I found out I spent money on the soda machine when I passed one and tons of junk that I didn't need. I stopped all that and controlled my money by prioritizing spending on things that save me money first. Example, new windows in the house first then the Android tv box. The main thing I try to control reoccurring bills. Example, cell phone bill I pay $180 a year. I only need to revisit it once a year.
Buy things that save you money. Example, I ride to work everyday on an Ebike all summer. Grocery shopping on it. I am down to $250 in gas last year because of the Ebike and the Prius.
My cost of living is around 15k a year with everything paid off. My retirement has been moved from 67 to 62 years. Next year I will be retired.
Good for you! That's amazing
This is a great video ! do you have any videos about the Christian health insurance?
I don't sorry
I’ve wanted to take advantage of credit cards like this but I’m so scared I will forget to pay it off that I chicken out.🤦♀️
I’m super interested to hear about your business. I’d love to know how you make them work for your family.
Great video great knowledge👍👍
I also use credit cards the same way you describe for sign up points. We have churned them and have made thousands of dollars towards our vacations over the past five or so years. We have to pay them off every month. If I forget a payment and am late, which is rare, I call and ask for the interest and late fees to be removed and they almost always do it. We have some of the same cards you do. Except we got one for both my husband and myself. In October, we took a vacation and saved $300 on our expenses. We just got back from a 2-1/2 week vacation and it was completely free. It was over $2,000. (I also include the credit card fees in the vacation expense). We also got the $50 grocery credit you talked about on a different video. But we each had a card, so we got a $100 grocery credit. However, it IS stressful to me because I have difficulty keeping up with the details. I do cancel a lot of these, also.
The pay back feature on our cards is also 25% more, so that is like 125% also.
When you went on one of your vacations, you mentioned about the credit card you could use for Airbnb's, which we had never heard of before, so we signed up for that one. We have two IHG cards, which are a really good deal. The fee is only $49 a year and you get a free room. (My husband and I each have one). On our last vacation, they upgraded us to a suite at each Holiday Inn we stayed at. However, some places we are traveling don't have Holiday Inns, such as a hiking vacation, so we loved using the Airbnb credit card. Thank you for all your tips!
You sound a lot like us! I'm glad you're enjoying the Capital One card. That's our favorite and main one. So glad you got to go to so many places. It's so fun!
Enjoyed the video!
I don't like credit cards, so I haven't got any. I use debit cards, so much safer. I do like your idea of writing everything down, as I like so many have been a bit naughty with covid spending. You're looking wonderful, I do hope you stay well. Don't forget to eat properly, sending love and best wishes to you all 💞
Thank you kindly! It is amazing to feel good again. Hey we all know what works best for us!!! No one is the same. That's what makes people so interesting
Great video!
Credit cards are not worthwhile in the eurozone. Some are with no free, but the benefits are ridiculously low. Credit card providers can borrow money from the European Central Bank for zero interest and then make money at high interest rates. So, we only use them overseas. I admire your accounting skills. Coming from a large family, I also learned to allocate money and keep track of our expenses. It sounds like a roller coaster that you suffer from your chronic illness. The uncertainty that comes along with the question of costs is certainly not health enhancing. Fortunately, because of the good public and private health care system, we do not have this cost pressure.
I find it interesting how each company is different. Too bad you don't have the benefits we can get. Im glad you have great health care!
We haven't had credit cards since 2011 and have been grateful for it but I still enjoyed this video.
You mentioned many different accounts, but didn't hear one for a savings account for Xander. Have you all started one for him, will you later in the future, or is it not common for parents in the Mennonite community to do so for their children?
Yes we need to. We want to start an investment savings. Haven't done it yet
Thanks for sharing.
p.s. We received that Sapphire card offer but think you had to make like $4,000 in purchases within three months time to get the deal. So can I assume you either used saving to pay that $4,000 off or you already had those purchases budgeted and the money already saved before you took them up on the offer?
That's correct. I was planning on a larger purchase. But with our businesses we usually hit that number within the months. Business... grocery... bills... etc.
oh man I so wish I had the brainpower to do this. Maybe in the future though! Hope your summer is going well, have yall had heatwaves? Weve actually had rain for a week which is amazing! Next week I'll be watching with my toes in the tide, woohoo vacation 🏖 only the tx gulf and alaska is on my bucket list for sure, how exciting!
Oh fun! Have a fun trip!
Thanks for sharing. I am trying to do a combination of cash envelopes and cards but it is not as big as yours.
Good luck!
Good video, but too t I ever consuming for me🤷🏻♀️
Hi Jeanine it,s so true about credit card,s we aft be smart you right I, always pay my on time happy 4 th the july🇨🇦💚💛💟💙💜⚘🌾⚘👍⚘🌾⚘🌾⚘🌾
Happy 4th!
got rid of our cards eons ago
Wondering if your accounts are all at the same bank or different banks?
Same. And free. Don't use accounts that make you pay fees or have minimum requirements
I didn’t hear you say anything about a college fund for Xander or savings account for him. Having many open bank accounts can be dangerous and I think you hint upon it here. You definitely had good role models in your finances. Was it your folks?
Not everyone goes to college
Yes we want to start a savings for him as well. But we don't plan to send him to college. Unless he wishes to. But yes, we would like to start up an investment savings for him. Good point
Too much juggling. I would go bonkers. 😝😝😝
Nice outfit
Thank you
I am the one who is big on this and following a budget. Husband not so much. I wish he could see the wisdom in this!