"Method 4. Let Your Expenses Work For You
By Rick and Wendy Jensen
Author: Positive Parenting
You’ve probably heard of “letting interest work for you.” This is
old, but wise advice. Here’s some newer advice that I’d like to
give. Let your interest work for you, but allow your expenses to
work for you too!
With some of the credit programs available today you can earn
money on the products that you will normally spend money on.
There are different credit cards that can earn you up to 5%
cash back when you use them. The rules for the cash back
credit cards vary, and depending on your circumstances you’ll
probably only get about 1 or 1.5% back. I realize that this
doesn’t see like that much, but every little bit helps!
It especially helps when you see how much that 1.5% has
accumulated over a year. The best part is that you were going
to purchase those products anyway - why not let someone pay
you for it?
Before you get “excited” about this, you should be warned
about credit cards. Some people have a difficult time with credit
cards because they spend as if “it’s not real money.” Don’t use
a credit card if you have a difficult time disciplining your self
financially. If you find yourself going crazy, JUST STOP!
Remember, the only reason why you buy things on credit is
because they are paying you to do so. It’s not because you
don’t have the money “right now.” If you don’t have the money
“right now,” then you probably shouldn’t be buying it!
Let me tell you how this Cash Back Award has been spent by
some of my friends:
I have some friends who take their annual Cash Back Award
and use it on the vacation of their choice. Because my friend
owns a business, he is continually purchasing things for his
business.
The money that he spends for airfare, meals, bills, and other
expenses all go to increase his Cash Back Award. He will be
spending that money no matter what - so why not get a little
kickback?
Because of the amount that he spends for his business, his
kickback ends up paying his expenses for a week in Hawaii
with his entire family. I’d say that’s worth it!
_____________________
Note from Christopher - I use a credit card that pays down my
mortgage with the "cash back" and I've paid down hundreds of
dollars of principal by using this method."
Let Your own Expenses Works
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