Over the weekend I was thinking a lot about this blog, and
what else I wanted to share. I don’t
know why I find writing a blog so cathartic, but I really do! I’m not entirely sure how long I’ll continue
to write, or what the subject matter of future blogs will be, but I did come up
with a short list of some ideas for future posts- so I’ll start there and see
where it gets me.
While I was brainstorming ideas I instantly starting to
think of more “money saving tricks” that I’ve employed over the past few
years. I’m an analyst by nature, I work
in cost management- I’m constantly writing and revising my monthly budget. I think I am so hard wired to look for a
bargain that some of the things I do come as second nature. So I figured I’d share one or 2 more of my
10+ tips today, so I can keep everyone coming back!
1. Maximize your credit card points. When Kyle and I returned from our honeymoon
we decided to visit Huntington Bank to set up our joint checking and savings
accounts. Instead of using a debit card,
we immediately decided to open up a joint credit card so we could get some kind
of rewards. The bank manager informed us
that Huntington gives you 1 point for each $1 spent, and then 3 points back in
one particular segment- which we were able to select. Instantly I knew I wanted to elect to receive
that extra cash back on our grocery purchases.
Not only do we spend the most money at the grocery each month, BUT- wait
for it…. We can buy gift cards at the grocery store to use at restaurants,
movie theaters, home improvement shops, even amazon. This seemed like a no brainer to me. Now before swinging by Home Depot (which
seems to be a bi-weekly activity) we stop by the Kroger store across the street
to purchase a gift card first. It is
slightly inconvenient, but we are now receiving 3% cash back on all our
purchases through our credit card and- wait for it…. DOUBLE FUEL POINTS!
So to break the math down:
A $200 Home Depot gift card provides us with $6.00 cash back (which we
put towards our credit card statement), and $0.40 off per gallon (or for my 12
gallon tank, approximately $4.80). Now I
know $10.80 isn’t a life changing amount of savings, but multiply this by
nearly every purchase we make, and before you know it- we’re saving 100’s of
dollars, just by buying gift cards at Kroger prior to shopping trips we were
already planning to make.
2. Open bank accounts when incentives are
available. Opening a new checking or
savings account has no effect on your credit.
So when there is monetary incentive for opening up a new account, take
advantage of it! Currently 5/3rd
bank is offering $150 to you and donating $150 to Stand Up to Cancer if you
open a new basic checking account. The
account is free to maintain on a monthly basis, and all you have to do to
qualify for the incentive is make at least 1 direct deposit of $50, and pay 3
bills through their bill payment application (you also must be a new customer).
The “bills” can be anything- $1 to your parents, $1000 to your credit
card, it doesn’t matter. Once you’ve
received the incentive you can close the account, and 12 months later you’re
eligible to sign up for another incentive.
To date I’ve received over $500 for opening up new bank accounts- all of
which have cost me absolutely nothing.
And there are my 2 money saving tips for the day. Get out to the banks, and maximize those
bonus/fuel points folks!
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