Popular Housing Markets During the Pandemic

There’s something weird happening with the real estate markets today. Normally in a recession, demand for rentals goes up while demand for houses goes down. But if there’s anything 2020 has taught us, it’s that everything is turned on its head right now.  Instead, we’re seeing an interesting trend: despite the ongoing pandemic, home-buying is […]

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How to Maximize Rewards on Everyday Spending

Woman using credit card on everyday spending

While many rewards enthusiasts focus on signing up for new credit cards to earn signup bonuses, not everyone has the time or desire to play the signup game. There is effort involved in tracking multiple cards, annual fees, and rewards programs, after all, and some people don’t want to spend their time or mental energy this way.

If you’re someone who falls into this category, you may be better off maximizing one or two cards instead of chasing rewards. Fortunately, you can earn plenty of rewards over time if you’re savvy about your card’s benefits and bonus categories.

The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. Here are some tips that can help.

Brainstorm every bill you could pay with a credit card

Because rewards cards offer points based on each dollar you spend, maximizing the amount you can spend on credit is the best way to boost your rewards haul. The smartest strategy to use here is figuring out how many of your monthly bills you can pay with a credit card.

While you may not be notified or aware, it’s possible that bills you’ve been paying with a check or debit card for years can be paid with a credit card without any fees. While your bills may vary, some expenses you should try to pay with a credit card include:

  • Rent
  • Utility bills like electric or gas
  • Health insurance
  • Cable television and internet
  • Cell phone
  • Taxes
  • Daycare
  • Auto and home insurance
  • Subscription services
  • College tuition or student loans
  • Medical bills
  • Lawn care

Keep in mind that these are just some of the bills you could be paying with credit. Depending on your situation, you could have additional, uncommon expenses to cover that could be paid with credit with ease.

Also, remember that these additional bills should be paid with credit on top of your everyday expenses like groceries, dining out, gas or bus fare, and miscellaneous spending. Every time you buy something in person or online, you should strive to pay with your rewards card if you can.

Leverage your rewards card bonus categories

It’s also important to leverage your favorite card bonus categories, whatever they may be. This is especially important if you have a few cards with different bonus categories since you’ll want to make sure you’re using the right card for bills that let you earn bonus points.

Let’s say you have a travel credit card that earns 3x points on dining and travel and another card that earns 6x points at the grocery store. In that case, you would be smart to use the travel card for dining and travel purchases and your other card when you stock up on food. While the amount of rewards you earn with individual purchases may seem nominal, using the right card for the right purchase can help you earn a lot more rewards over time.

Set up auto-pay bills to be paid with credit

Most of us have bills set up to be paid automatically, whether it’s our Netflix and Hulu subscriptions, gym membership, or utility bills. Make sure each bill you have set up to be paid automatically is set up to be paid with your rewards card and not a debit card. This way, you can earn rewards points on those expenses every month.

Use shopping portals and dining clubs

Many flexible rewards programs, frequent flyer programs, and hotel loyalty programs have shopping portals you can access to earn extra points. Major airlines like American, Delta, and United also have shopping portals that work similarly. (See also: How to Maximize Rewards Through Credit Card Shopping Portals)

Some programs like Southwest and Delta also offer dining clubs. These programs let you earn additional points or miles just for dining at participating restaurants in your area. It’s easy and it’s free to join, so you may as well earn extra miles on your spending if you’re going to dine out anyway. (See also: Everything You Need to Know About Airline Dining Rewards Programs)

How much the average family can earn

If you are skeptical the average family can rack up meaningful rewards without signing up for new cards over and over again, look at how this might work in real life. For example, imagine a family of four with two rewards card-toting adults. Across the two of them, they have:

  • A cash back card that earns 2% back
     
  • A travel credit card that earns 3% on dining and travel
     
  • A rewards card that earns 6% cash back at the grocery store on up to $6,000 in spending each year

To figure out how much this family might earn, we used Bureau of Labor Statistics spending averages from 2017. Here’s a rundown of that data for the year plus how much a family could earn in rewards over 12 months based on average expenses:

  • Food at home ($4,363): $261.78 in rewards at 6%
     
  • Food away from home ($3,365): $100.95 at 3%
     
  • Utilities, fuels, and public services ($3,836): $76.72 at 2%
     
  • Household operations ($1,412): $28.24 at 2%
     
  • Household supplies ($755): $45.30 at 6%
     
  • Household furnishings and equipment ($1,987): $39.74 at 2%
     
  • Apparel and services ($1,833): $36.66 at 2%
     
  • Gasoline and motor oil ($1,968): $39.36 at 2%
     
  • Other vehicle expenses ($2,842): $56.84 at 2%
     
  • Healthcare ($4,928): $98.56 at 2%
     
  • Entertainment ($3,203): $64.06 at 2%
     
  • Personal care products ($762): $45.72 at 6%
     
  • Education ($1,491): $29.82 at 2%

Total rewards: $923.75

While $900+ is a lot to earn in rewards within a year, you have the potential to earn a lot more. After all, these are just some of the expenses the average family faces and not all of them. If you could pay some additional big bills with credit each month like daycare or your rent, you could significantly add to your bottom line.

What to watch out for

While maximizing rewards cards is a smart idea if you’re using them already anyway, there are always pitfalls to be aware of when you’re using a credit card. Here’s what to watch out for during your quest for more cash back and travel rewards.

Fees for using credit

While there are many bills you can pay with credit without a fee, some vendors, merchants, and service providers charge a fee to use a credit card as payment. Fees are especially prevalent on bills such as utilities, cable or internet, rent, and insurance. Make sure to verify you aren’t being charged a fee to use credit before you proceed.

Annual fees

Don’t forget that some rewards cards charge annual fees. These fees may be worth it depending on your spending and rewards haul, but you should always factor them into the equation to make sure each fee is worth paying. If you’re against paying annual fees, look for rewards cards that don’t charge one.

Budgeting mishaps

Using a credit card for all your expenses may simplify your financial life, but it could also cause your budget to fall out of whack. Make sure you’re only spending on purchases you planned to make anyway, and that you’re tracking your spending and paying off your credit cards regularly.

Debt

Never use credit cards for purchases you can’t afford to repay if you’re pursuing rewards. The interest you’ll pay will always be much more than the rewards you earn. If you’re worried using credit will cause you to rack up debt you can’t afford to repay, you’re better off sticking to cash or debit instead.

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Want to maximise your credit card rewards? The key to getting the most out of your rewards cards is understanding how they work and looking for opportunities to earn more points on your everyday spending. We’ve got the ultimate tips and tricks to help you save money and earn more rewards! | #creditcards #rewardsprogram #creditcardrewards


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How to Invest in Real Estate with Less than $10,000

I recently wrote an article about how to make $10,000 a month with rental properties. I have personally surpassed that number and will keep going, but not everyone is at that stage in their investing life. What about those who do not have much money and are looking to get started investing in real estate? … Read more

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How to Teach Your Teen to Budget Like a Pro

Here are some tips from fellow parents and experts in the personal finance space to teach your teen how to budget.

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The post How to Teach Your Teen to Budget Like a Pro appeared first on MintLife Blog.

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How To Become a Freelancer and Make a Full-Time Income

Today, I have a fun interview to share with you that will show you how to become a freelancer. I recently had the chance to interview Ben Taylor. Ben has been freelancing since 2004, and he has worked for dozens of companies. Yes, this is a career path that you can learn! As Ben will […]

The post How To Become a Freelancer and Make a Full-Time Income appeared first on Making Sense Of Cents.

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New Rules May Offer You More Protection Against Debt Collectors

Dealing with debt collectors can be a real drag, especially if they’re constantly hounding you to pay up. The Fair Debt Collection Practices Act (FDCPA) protects consumers against harassment from debt collectors but the industry still generates millions of complaints … Continue reading →

The post New Rules May Offer You More Protection Against Debt Collectors appeared first on SmartAsset Blog.

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Why It’s Harder to Get Credit When You’re Self-Employed

Around 6.1% of employed Americans worked for themselves in 2019, yet the ranks of the self-employed might increase among certain professions more than others. By 2026, the U.S. Bureau of Labor Statistics projects that self-employment will rise by nearly 8%.  Some self-employed professionals experience high pay in addition to increased flexibility. Dentists, for example, are […]

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Inside Supernatural Star Jensen Ackles’ ‘Very Hip’ Lake House in Austin

If you’re a die-hard Supernatural fan like us, you’re probably still reeling from the show’s finale and coping with the fact that there won’t be any new Winchester adventures for us to follow. But we’re not here to talk about that, but rather snoop into the private life of one of the series’ leading men. […] More

The post Inside Supernatural Star Jensen Ackles’ ‘Very Hip’ Lake House in Austin appeared first on Fancy Pants Homes.

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How to Be Confident but Not Arrogant

In 2007 I had my first baby. I was extraordinarily fortunate to spend a year at home with her. That year was a gift, full stop. But as I learned in 2008 when I returned to the workforce—new job, new company—taking a year off also drained my confidence tank.
 
Pre-baby, I knew what made me shine at work. Post-baby, I felt like I’d lost my mojo.
 
According to Psychology Today:
 
Confidence is a belief in oneself, the conviction that one has the ability to meet life's challenges and to succeed—and the willingness to act accordingly.
 
I knew how essential not only feeling but being able to display confidence was in my professional life. But after taking that year away, I wasn’t sure how to rediscover mine.
 
Previously I’d been a relationship-builder, a talent strategy advisor, and an analyzer of human capital data. Upon re-entry in 2008, I feared I’d lost my edge. And I was determined to show that fear who's boss. So I set my mind to making my mark, showing the world how smart and capable I was.

It was a total miscalculation on my part. And I got some serious feedback to prove it.

I did this by having something—actually, a lot of somethings—to say in every meeting. I was quick to offer solutions to problems. And when something needed to be done, I had it covered. No help needed. And that strategy went really well for me.
 
Kidding! It was a total miscalculation on my part. And I got some serious feedback to prove it. I’d been so focused on seeming confident that I’d shown up as arrogant. I will be forever grateful to the boss who gave me that feedback early and counseled me to course-correct.
 
I learned the hard way, but I learned a lot about what distinguishes confidence from arrogance. And today I share the biggest lessons. Here's the feedback my boss gave me, which I ran with. Thirteen years later, I'm delighted to pay it forward.

1. Know what you’re here to do

Arrogance happens when you over-index on you—how you’re showing up and being perceived. Confidence is focusing on the work—the outcomes you’re there to deliver.

The conviction that you have the ability to meet a challenge begins with being super clear about what challenge you’re there to meet.

Exuding confidence begins with experiencing confidence internally. The conviction that you have the ability to meet a challenge begins with being super clear about what challenge you’re there to meet.
 
Before an important interaction, ask yourself: What’s my role in this, and what am I expected to influence or deliver? Asking and answering those questions will center you. It will allow you to home in on where your voice has power, and where your silence or observation may add more value.
 
In 2008, I was so focused on seeming confident—which I somehow translated into a need for verbal diarrhea—that I lost sight of what I was there to do. I wasn’t hired to seem smart; I was hired to develop talent plans to fuel the business’s success.
 
Early feedback from that wonderful boss reminded me I didn’t need to offer a point of view at every turn. “Have the confidence not to speak up sometimes,” I remember her telling me. And having the poise to listen and observe when that's what's called for makes you seem all the more confident when you do offer an idea or point of view.

2. Listen like you mean it

Arrogance is pausing to give others a turn to speak. Confidence is truly hearing and absorbing what they have to say.

Ask probing questions to extract more meaning.

I was deeply guilty of pausing but not listening. Only when my boss called me out did I realize she was right. I was so focused on what I had to say next that I wasn’t taking in and reflecting on the value that others were bringing to the conversation. The pressure to seem smart led me to overuse my words and underuse my ears. And this backfired, positioning me as more arrogant than wise.
 
RELATED: Listen Up! Not Listening Is Holding Your Career Back
 
Again, that clarity of purpose should light the way. I was there to build a talent plan to help the business achieve its goals. So when the leader was talking about his goals and talent needs, that was my cue to listen. These were the moments that would provide meaningful insight and data to support my work.
 
Feedback from my boss helped me become an active listener. I wasn’t silent, but rather I was using my voice to restate what I had heard, or to ask probing questions to extract more meaning.

3. Let them see the sausage-making

Arrogance is believing the path from start to finish should be paved only with your ideas. Confidence is knowing you don’t know everything and having the humility to recognize that other people's good ideas won’t dull your shine.

Confidence is knowing you don’t know everything.

So as you’re working toward a deliverable, don’t wait for it to be fully baked or polished before you do the big reveal. (That works on HGTV, but not so much in real life.) As you move work along, build check-in points into your process. Let people watch as you make the sausage, and give your peers, your leader, your stakeholders a chance to influence the flavor before it’s fully cooked.
 
It does take confidence to pull back the curtain on an unfinished product. But it will better the outcome every time.

4. Say the bold thing

Arrogance encourages you to say what someone wants to hear. It will make you a hero just for today. Confidence allows you to say what they need to hear, and it will make you the hero in the long-term, where it really counts.

Arrogance encourages you to say what someone wants to hear; confidence allows you to say what they need to hear.

Fueled by feedback from my leader, I started finding moments of courage to push back on what my business client, George, believed was best. 
 
George was a salesman. His own climb up the corporate ladder was driven by his excellence in sales, and so he believed finding and growing great sales talent was the key to his business’s success. In our early days, as long as I showed George a plan designed to do just that, he’d praise my genius. 
 
But in time I came to realize this was a short-sighted play. We had great sales talent. The problem wasn’t finding more, but rather, finding ways to enhance collaboration between sales and client management. A stronger partnership between the teams would enhance the customer experience, in turn delivering bigger business results.
 
The first time I suggested this to George, there was no smile. But I'd done my research. I’d compared us with other companies doing the same, and ultimately, I won his support.
 
My recommendation delivered success in the long-run. But it took me time to find the confidence to say the thing he wasn’t ready to hear.
 
2008 was a painful year for me. And yet it delivered some of the most important lessons I’ve learned along the way about confidence. And as I pass these along to you, I realize there might be a fifth bonus insight: it takes a lot to share your own journey of failure (mine) in service of someone else’s success (yours). I choose to hope that’s a reflection of the confidence I’ve gained along the way.

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