this post was submitted on 03 Jul 2023
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Finance

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Money Monday Discussion Thread: Monday July 3rd, 2023 (beehaw.org)
submitted 2 years ago by gyrfalcon@beehaw.org to c/finance@beehaw.org
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Howdy! After the success of last week's discussion thread, I figured we should keep going. Feel free to comment below with anything and everything money related that is better suited to a conversation or a quick question and answer than a full post. Some ideas include:

  • Journaling about an ongoing job search
  • Asking for ideas about how to manage an emergency fund
  • Logging recent stock trades
  • Talking about the impact of inflation on your budget
  • Your plans for maximizing the rewards on a credit card

Again, those are just suggestions, if there’s really anything you’d like to talk about related to finance in your life, feel free to put it here.

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[–] shortwavesurfer@monero.town 1 points 2 years ago (2 children)

To maximize the reward from my credit card i dont have a credit card. Best solution. I am rewarded constantly by seeing others pay 20+% while i dont do that.

[–] zagaberoo@beehaw.org 1 points 2 years ago

What 20% do you mean? The interest rate?

If you treat a credit card like a charge card and pay it in full every month there's zero cost to you. You don't even pay interest on the time between the purchase and the payment as long as you pay everything off on the first statement it appears.

Having a credit card is good for your credit and can save you money in the form of cash back. As long as you can keep disciplined about only spending money you already have and paying in full every statement, it's all upside.

[–] shanghaibebop@beehaw.org 1 points 2 years ago

Eh, just pay the full balance every cycle. You're paying the hidden 3% transaction costs even if you don't use credit card on pretty much all transactions you make, so might as well get some rewards and sigh up bonus from it.