Personal Finance Gems

[Sugarbush]

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.

Check out MaxRewards. That’s how I keep track plus it updates which cards to use based off your location.

 

[NoMorePie]

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

terrible advice

ACCUMULATION

 

[CrimsonTider]

ACCUMULATION

NO

 

[CrimsonTider]

Stop celebrating holidays. Invest that cash. Thank me later.

Dumbest advice ever

 

[Pseudonym]

Buy a reliable used car, save your money to buy a house and/or pay off debt

 

[wongzini]

Don’t take financial advice from people you wouldn’t switch positions with…

 

[Save $ not Hoes]

Dumbest advice ever

Woat. Not surprised.

 

[CrimsonTider]

Woat. Not surprised.

Yeah bytch

You sound like a lonely loser

 

[RebelX]

Understand opportunity cost

 

[bnew]

This isn't good advice for everyone tho.

My gf has one cc she uses for everything... It was all good, but lately she's gotten popped twice in a few months bc someone used her card fraudulently to buy food from Uber Eats.

So then her card has to be canceled until they can send her a new one. If you don't have a backup cc then you're screwed

having a single-point of failure ain't the wave. all credit cards aren't equal in benefits so it's worth having at least two if you're a responsible person. I had a mastercard credit card and spent over $1k on rental car insurance before learning AMEX and Visa has free car-rental insurance just by using the card with the rental company.

 

[Robbie3000]

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.

This is a really good idea. I have several checking accounts that I use to pay for certain bills. Housing and fixed bills, credit, and weekly allowance etc.

It has helped keep my spending on track.

 

[thaKEAF]

Don’t overspend on credit cards. Pay shyt off monthly. Once that debt piles up on you it’s like the weight of 100 tons. @winb83 you put me up on the credit card consolidation loan back in 2019. I have five more payments to go never again

 

[egsteel]

Focus on income generation through multiple streams above all else.

can you drop some ideas?

online business.

 

[1thouwow]

nikka in here really said don’t get gifts for anyone

 

[TRUEST]

Dumbest advice ever

Why is that? What makes it dumbest?