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Posts tagged with: credit card

Credit Card Points for the Win

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Our travel season has begun…and doubled up this year due to the addition of travel volleyball along with gymnastics. There are several weekends over the next three months that require us to be in two places at once. It’s going to get tricky.

Gymnast this past weekend after his competition in Knoxville.

And we all know, travel is expensive. But I am excited to say, I have covered ALL required hotels for this travel season using hotel points and credit card rebates. Woot, woot! (I’ve also reached out to family in some locations for occasional overnights.)

Princess is ready for her first volleyball tournament this weekend in Knoxville.

Using Credit Cards

There are two schools of thought when it comes to credit cards when you are trying to get out of debt. I have chosen it keep one credit card active BECAUSE of the security is provides. My checking account/debit card have been cleared out on multiple occasions, and I am not willing to go through that again. I use my credit card for everything and then make regular payments throughout the month.

In addition, a credit card saves a lot of head ache when you have to rent a car. And as mentioned above, the points I earn from my credit card have covered a great deal of the expenses for our travel this spring for the kids’ sports.

If you are on a “get out of debt” journey, what is your opinion on credit card usage?

 


Thea’s Debt Introduction

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Note: Thea would like to be the next BAD blogger and this is her introduction in hopes of becoming it. Please leave any impressions, thoughts or comments about her current situation. More information about this position can be found here

Every month as I watch my hard earned salary fly away into the unknown by a few clicks of a button, I know that my life shouldn’t be like this. As a teacher I work hard and I would, like anyone, like to “play” hard. I would like to take trips and pay for them with my debit card instead of my credit card and buy things without the guilty feeling that almost always accompanies the buying of a want and not a need. This is not my reality now, but I hope that in time, sooner rather than later, it will be.

I am currently going through what I think, no, hope is a transition period in my life. I have a husband, a seven month old and a two-and-a-half year old and everyday is a struggle to keep myself and my family mentally and financially afloat. With that being said however, I think I’m doing a pretty good job. The bills are paid, I’m saving almost 10 percent a month (it does still count as savings if I have to spend it later, right?), everyone is fed, and I’m paying more than the minimum on my credit cards. The problem is however, that there is no (capital N, capital O) money left over at the end of the month. Subsequently, I’ve had to defer my student loans-$30,000 worth, I am stuck with a car I no longer want-still owe $9,000, of which $4,000 is negative equity, and most months have to use my credit card to buy necessities at the end of the month (ok, ok, I put other things on there, too)-which as of March 7, I owe $4,800 on, but that is down from the $9,000 I owed 3 months ago.

Even though as I mentioned earlier, I have a sinking feeling in my stomach when the bills are due, I remain confident that I will reach ALL of m financial goals: being debt FREE (paying off my credit card and student loans, owning my dream car, and vacationing using cash) and providing the best foundation possible for my children (contributing plentifully to their educational IRAs and making other long-term investments) . I believe with education, determination, and support from you all I (we) can do this!


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