There are strong opinions surrounding the myths about credit cards. People are very cautious when it comes to the subject, and with good reason. When you don’t fully understand the advantages of having a credit card, the risks can easily heighten your fears. We’ve all heard how you should only use credit cards for emergencies, canceling any credit cards you do not use, and of course credit card debt. With various sources of information being thrown out there it can be hard to read between the lines of facts and partiality because of an unfortunate incident.
On today’s show, Brad Barrett of ChooseFI Podcast shares the benefits of stress-free living and the importance of being intentional with having control over your life. He goes into depth the road to financial independence and how it has helped him prioritize saving money and catching a great deal. The main focus of the conversation is on the upside of credit card rewards programs.
When signing up for a credit card you want to ensure that you are making a good choice that will serve you well. The best way to determine if credit card management is for you is to do research (shop around) and always read the fine print. Frankly, it’s not for everybody. Check how disciplined you are to follow basic principles as a cardholder and go from there.
True freedom is determined by the choices you make for your lifestyle frame of mind. When mapping out your life goals sometimes you have to go beyond the money aspect to envision a bigger picture. Awareness of what you know you can financially maintain is a testament of how much you care about being fulfilled in life. Flashy things are very tempting, but knowing when to pass on purchasing something you want can lead to greater abundance in your life experiences. Setting those boundaries is a smart way to consider when to say “no” or “I can’t afford that”. It’s okay to be logical on how you spend, save, and invest.
“The more organization you have, the easier [using travel rewards] becomes”
Today’s Love and Money idea:
- A slight mindset shift can aid in getting a clear understanding of what you want out of life serving as a gateway to monitor spending habits. When you are disciplined in being economical with your coins, you’ll be able to discover a liberated approach to life.
- There is a certain level of responsibility you must have to reap the benefits of travel rewards. This system is not for the reckless spender or a person who just wants the perks. If you apply for a credit card that offers rewards, follow those rules and guidelines to keep up with managing the card.
- Be intentional with how you spend your reward points. Also, be sure to redeem those points! It can be a tedious process to earn enough points to trade in, but it’s important to keep up with how many you have so that they don’t decrease in value over time.
- Choosing a credit card that is flexible in the offers available plays a huge role in how you can maximize the reward structure. Your card choice should be dependent on what makes sense to your everyday life, travel included.
As I said before, it takes two powerful people to become a power couple. We’d love to have you and your partner join the Prosperity Club. Whether you want to start with the free version or jump right in to the paid membership you will get lots of value for your time and money.
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Go to http://kinecorder.com/money-quiz to take the FREE Money Mentality quiz. If you like it, move forward and take the course to learn more about the other Money Mentality types.
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