Cash Back Credit Cards: Learn about The Good and The Bad

Learning About Cash Back Credit Cards: Good or Bad Idea?

Getting a credit card that offers cash back always sounds like a good idea.  What could be better than getting cash back on all the purchases that you make with your credit card?  It sounds too good to be true, doesn't it?   

Well, there are cards that give you free cash, but it is usually only around 1% cash back.  However, free money is free money, right?  Well, sometimes.  

If you like to buy a lot of things in one month, this kind of credit card probably sounds great to you.  However, you need to keep in mind that they are not going to give you cash back on every purchase that you make.  Even if they claim to give you cash back on every purchase, they will only give you up to a certain amount per transaction.  The company also has a strict limit on the amount that they will give back to their customers.  If you read the little, bitty print on the form that you signed, you will see a paragraph with their limits in the terms and agreements.  

This is another way to try to draw in new customers for these companies.  It is a good credit card to have and sounds great in theory, but they will have to check your credit rating before they will give you their card.  

Research different credit card companies to see what they are offering.  You may be surprised to find a cash back credit card that offers you just what you need and want with a high cash back percentage, few limits on the amount they will give you back, and instant cash deposits when you make each purchase with their card.  

Although these credit cards seem like a great thing to have, some companies will need your credit rating to be great too.  However, there are credit card companies that offer these cards to people with a low credit rating to help them rebuild their credit.  Research all of your options.  

What should your decision be?  

If you have a good credit rating, then this card is a great option for you.  Research different card companies. There are cards out there that offer you up to 3% cash back and impose very few limits.  If, however, you have a bad credit rating, you may want to find a credit card that will help you rebuild your credit.  
Excellent, good, fair or bad credit, you can apply for at credit card here.

Creating a Budget isn't Just for "Smart" people, Everyone Owns Important This Skill, but "Do They Utilize it'?

"Why Should I Make a Budget?", 

"I'm not Savvy enough" or "I Know

 what I am Doing Just Fine!".

You say you know where your money goes, and you

 don’t need it all written down to keep up with it?

 I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.

You will be shocked at what the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years.

That is how much you could have saved AND

 drawn interest on in just five years. 

That, my friend, is the very reason 

all of us need a budget.

If we can get control of the small expenses that really don’t matter to the overall scheme of our lives, we can enjoy financial success.

The little things really do count. 

Cutting what you spend on lunch from five dollars a day to three dollars a day, on every work day, in a five day work week, saves $10 a week… $40 a month… $480 a year… $2400 in five years….plus interest! Do you really have to have that Giant-Sized Fountain Soda everyday? Is that what keeps you going? Think about that. 

See what I mean… it really IS the little things and you still eat lunch everyday AND that was only one place to save money in your daily living without doing without one thing you really need. 

There are a lot of places to cut expenses if you

look for them.   Do you want a house?, Or do you want that corner store soda and hot dog for lunch everyday, for the rest of your life?

Set some specific long term and short term goals. Don't make a big fuss out of thinking about goals, it doesn't make you a nerd, it strengthens your survival and you are more than smart enough to do this. Just take a few minutes and talk it out. What do you want?

Have Your Very Own House

There are no wrong answers here. 

If it’s important to you, then it’s important period.

If you want to be able to make a down payment on a house,start a college fund for your kids, buy a sports car, take a vacation to Aruba… anything… then that is your goal and your reason to get a handle on your financial situation now.

Home or Heat Lamp Burrito? It's your choice. 

How Can I Make More Money?

Staying Out of Credit Card Debt, The Tough Part When Buying Your Own Home

Getting Out and Staying Out of Credit Card Debt

Credit Card Debt is a Major Cause of over One Million Bankruptcies Each Year.  

The reason is that many people get a credit card without researching and reading the fine print.  By the

time annual fees are added on, along with spending indiscriminately, payments are missed, which causes their balance to skyrocket.   

Although we all like to place the blame on the credit cards and the credit card companies, you need to keep in mind that the real cause of your financial mess is you.  

One shopping spree does not usually cause high debt.  It is usually a pattern that consists of gradually 
increasing purchases that add up to a large debt.  The great thing is that it can be very easy to get out of debt.  The key is to start spending less than you make.  This is a long-term solution that can help you to whittle your debt down.  

Although it may sound simple, it can be very

 

difficult if you have a problem with willpower.  It is important to stick with spending less than you make or you will find yourself in exactly the same place as you were before.  Overcoming your debt will take willpower and a great deal of time.  

It may be difficult to stick with your debt repayment program, but keep yourself strong and you will find yourself out of debt before you know it.  

It is important to learn how to get out of debt and then stay out of debt.  If you can summon enough willpower and strength towards your finances and

spending, then you will find yourself the winner in the game of debt.  It may be easy to get into debt, but getting out of debt is much more difficult, but worth it.   

One simple phrase can sum up the solution to your financial problems:

If you don't have the money to spend, then don't spend it! 

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