Personal Finance Gems

[Sugarbush]

Use a financial aggregator to get a snapshot of your finances. Copilot is pretty cool.

 

[Sugarbush]

Fidelity Visa 2% back on everything
Citi Double Cash 2% back on everything

Why do you have two 2% cash back cards?

 

[NoMorePie]

Cash back credit cards.

 

[dtownreppin214]

I'm to the point that I get 5%-6% back on almost everything I spend. No way could I do that with a single credit card. I have 9 cards I use primarily.
Amazon Visa 5% back at Amazon
US Bank Cash+ 5% back at electronic stores (Best Buy) and on utility bills
Chase Freedom 5% back rotating categories
Discover It 5% back rotating categories
Citi Custom Cash 5% back on a category of your choice I go with dining
Amex Blue Cash Preferred 6% back on groceries and subscription services
Target Mastercard 5% back at Target
Fidelity Visa 2% back on everything
Citi Double Cash 2% back on everything

I have a similar setup. If you're disciplined this is the way to go.

 

[MoveForward]

Velocity banking for homeowners…

 

[Originalman]

Avoid consumer debt. Don't buy new cars over and over that is the quickest way to go broke. Get a good used car and ride that joker as long as you can. Or if you got a new car get one with an affordable note and don't go trading that hoe in for a new car every 2 or 3 years.

Interest on consumer debt can be the difference between being broke and having a bunch of money in the bank account and in retirement savings.

 

[Originalman]

Also budget. Never forget every company has a budget.

If a company that is worth 100s of billions of dollars has a budget but you making 50k and have no budget. Then you are hustling backwards.

Everyone needs a budget...everyone.

 

[NoMorePie]

Stop spending money on shyt you know damn well you don't need to spending your money on. No, you don't need that fukking bread basket. Just put your damn bread on the kitchen counter for fukk sake. Stop this shyt.

 

[1thouwow]

Put a lil something on it.

 

[UpAndComing]

Use the banks' money and not your own

 

[CrimsonTider]

Stop spending money on shyt you know damn well you don't need to spending your money on. No, you don't need that fukking bread basket. Just put your damn bread on the kitchen counter for fukk sake. Stop this shyt.

A bread basket is not difference between someone being broke and having money

terrible advice

 

[Macallik86]

I have a similar setup. If you're disciplined this is the way to go.

How do yall remember which cards to use when when you are offline/IRL?

I have three cards and only use two regularly, but I keep forgetting to use my 5% Discover CB for groceries this quarter because by 2% CB card is my daily driver.

 

[CrimsonTider]

Anybody have any good ones to share?

The best one I have is to automate as many as your finances as you can. My rent is direct deposited from my job into a checking account used only for it. I have my paycheck go to 5 separate checking accounts 4 are either savings or bill payment and 1 is spending.

After doing this my one spending account started building a surplus of money from the months I didn't spend all that money and now I have 2 paychecks worth of money as a buffer in it. I know it's dumb to have a decent amount of money sitting in a checking account but I kinda have to due to the automation because some credit cards still pull from that account.

All my bills that are able to are on credit cards and all my credit cards are on auto-pay. Most of my fixed bills are on my Citi Double Cash. That's all I use it for and the bill pays in full each month from a checking account.

I don't have a written budget nor do I really track my spending. I just automate and live under my means.

Here’s some advice that you need

saving is just deferred spending.

Save money for a reason and it something makes you happy buy and enjoy it

 

[Suge Knight]

Pay off your credit card in full monthly, and always pay yourself first.

 

[dtownreppin214]

How do yall remember which cards to use when when you are offline/IRL?

I have three cards and only use two regularly, but I keep forgetting to use my 5% Discover CB for groceries this quarter because by 2% CB card is my daily driver.

There's an app called MaxRebates which let's you link your cards and will keep track of your rebates and which card you should use. But the app is kinda clunky so I don't use it I just keep notes in my notes app and update it as the rebates change.