What do you buy with your credit card rewards money?

[ESMonitor]

Money is money. So you spend the rewards $$ on workout gear...you drop $100 towards that...then your utility bill comes in and thats $100. Whats the difference? Are you going to pay for the utility bill in bitcoin or gold shillings? Either way that bill is going to have to get paid somehow son. Again...money is money.

The difference - for me - is the spreadsheet.

[disneysteve]

How do you ensure that you have enough money for vacation and auto insurance and tuition and taxes and ensure that you have an adequate EF after all that?

I do that by watching the account balance. I keep track of how much is in the account as payment due dates approach and make sure there's enough there to cover everything. I don't have separate accounts for every major expense. I know some people do that (there's a thread about someone having 13 accounts) but we have never found it necessary. We can keep track just fine in a single account.

[disneysteve]

The difference - for me - is the spreadsheet.

Is the money you spend on the fitness products money that you wouldn't otherwise be spending? In other words, if you didn't earn the rewards, would you not make those purchases? Or would you just use other money to buy that stuff?

A lot of people look at windfalls as extra money, not part of their normal budget, and thus use it for splurges or special purchases that they wouldn't otherwise get.

[Jluke]

Chase Freedom card.... rewards are redeemed for a statement credit each and every month. There is no minimum amount (or time) that I need to accumulate before I can redeem the rewards.

I just redeemed $39.56 for last month's statement. free money. it's way too easy, way too convenient.

I guess they only keep me on in hopes that I stumble at some point; or the people who do not know how to use the card make up for my "earnings" off the credit card company.

[disneysteve]

I guess they only keep me on in hopes that I stumble at some point; or the people who do not know how to use the card make up for my "earnings" off the credit card company.

That's true of all rewards cards. The majority of folks essentially pay the rewards for the responsible minority. If the folks carrying a balance are paying 20% interest or more, it isn't hard for the company to give users 1% cash back.

[ESMonitor]

A lot of people look at windfalls as extra money, not part of their normal budget, and thus use it for splurges or special purchases that they wouldn't otherwise get.

That is precisely what this thread is about.

[Nutria]

I do that by watching the account balance. I keep track of how much is in the account as payment due dates approach and make sure there's enough there to cover everything. I don't have separate accounts for every major expense. I know some people do that (there's a thread about someone having 13 accounts) but we have never found it necessary. We can keep track just fine in a single account.

We have just one (actually, three, but for shuffling between the "fast to get to" zero percent account and "slow to transfer" relatively high account and lastly CDs) account, and a spreadsheet to keep track of what it's all for.

[MonkeyMama]

I take as a statement credit as soon as I hit the minimum for redemption. Usually once per month. Just because that is simplest. I then put the same dollar amount to my investments. In the past I've thrown rewards at the mortgage. It just depends. Right now I am happy with other financial goals so I am investing cc rewards.

[disneysteve]

A lot of people look at windfalls as extra money, not part of their normal budget, and thus use it for splurges or special purchases that they wouldn't otherwise get.

That is precisely what this thread is about.

I thought so. In that case, I don't really have anything to offer because we don't generally handle money that way. A bonus, a cash gift, credit card rewards, etc. get treated just the same as every other dollar that comes in. We don't go out and buy something that we weren't already planning to buy just because we got some extra money.

This used to really annoy my mother, who is fond of giving us cash gifts. She would expect us to do something special with the money, go out to a nice dinner or buy something for the house, and when we just stuck it in the bank, she thought we didn't appreciate the gift. Now, she's more likely to offer to pay for something we're already doing instead of just giving us random money. So, for example, if we're going to see a Broadway show, she'll pay for the tickets. That way she knows what the money went for and knows it got spent.

[Nika]

I almost never take money (did it very infrequently from discover only).

For Discover cashback - I usually use for gift cards only if there is a bonus - Bed Bath and Beyond (simple human trashbags and air for my soda stream are good priced with their numerous coupons), itunes if $25 for $20, and occasionally a starbucks gift card (for when on long road trips or DH's business trip, otherwise there are numerous better coffee options in Manhattan).

Everything else, I bank miles. The value I get out of first class airfare to Asia is way above any other reward I can possibly get! And this is a product that I could not otherwise afford.

[Fishindude77]

I have a Cabelas card. Pick up nice items no money out of pocket, a couple times every year. Most recently a Yeti cooler and WeatherTech floor mats for the truck.

[feh]

We always apply rewards toward the account balance.

[Nutria]

Bed Bath and Beyond (simple human trashbags and air for my soda stream

You've got to explain!!!

[DaveInPgh]

You've got to explain!!!

lol

I Googled it. Bags for an expensive trash can.

[Nutria]

lol

I Googled it. Bags for an expensive trash can.

I should have known...

And the air for (her) soda stream? Is that a non-standard CO2 cartridge?