Drifting in and out of debt is no fun. Time to give your money woes a slap and get your life in order.
Sure as eggs are eggs, one day planet Earth will get hit by a meteorite in a divine game of snooker. The end result will be the extinction of man (and just about every other species that walks, crawls and swims). Until then, there will be credit cards and debt. Today we’re going to look at some of ways you can bury your debt with a little help from your lender.
Cash back credit cards have long been touted as a great way to earn some money from your lender. The problem is that much of the advice normally involves stacking up more and more debt on your card. Let’s give the knife a little twist and find some new ways to spend without really spending!
Buy Everything On Credit
Did I just hear a gasp of shock? If you’re already carrying a lot of debt you want to know why you would want even more misery heaped upon your life? The urge to have the latest gadgets, the best car you can afford and the ‘need’ to keep up with your neighbours has left you in financial limbo.
The problem is that most of your previous purchases have been goods that you probably couldn’t really afford.
Don’t forget, we’re looking at ways to get cash back without giving away anything to your card lender.
The key here is to have the finances to afford you next big purchase. Buy on credit, get your cash back incentive then pay off the balance the next day. That means you get money in you pocket without financing the lenders silver-lined lifestyle.
Unless you’re a hermit or a former despot living in exile then you probably have friends. Like you, they have the same urges and desires. In fact, if you move in the same social circles and have the same interests in life then they’ll definitely be subject to the same influences as you.
At some point, they’ll have bought things that.either don’t really need or couldn’t afford.
Why not help them out and earn yourself some money whilst you’re at it?
Offer to pay for the goods they’re after and get the cash up front. As long as they have the money to finance the purchase you’ll both be quids in. In fact, offering to split the cash you get back from your card company will act as an extra incentive.
Service Your Existing Debts With A Cash Back Card
Hopefully, some of you will have no debt whatsoever. However, if you’re like the vast majority of the population then you’ve probably let those devious sales people and advertisers walk all over you with their size 11’s! It’s hard to live with the material costs after the fact but there are ways to earn money from your debt.
Any existing debts you have are prime targets for getting even more cash back from you card company.
Student loans, outstanding finance on your car or even a bank overdraft are all debts we wish would simply disappear.
Pay off those existing debts with your credit card. You’re already paying for them so why not use your card to get some cash flowing back into your piggy bank? The easiest way to do this is to arm yourself with a new card that not only gives you cash back but has a 0% balance transfer for at least 12 months. You’ll be quids in.
Mix In Some Free Travel
Family holidays are one of the luxuries that tend tend to take back seat when you’re skint. The constant niggle in the back of your head tells you that there are better ways to spend your hard earned money. Whilst this may be true it’s also fair to say that we need a break. Whilst you’re at it you might as well get some free air miles.
Expensive holidays to some far flung paradise are the key to maximising your credit cards money making potential.
If you haven’t already explored this idea then you’re missing out big time.
The principle of having enough cold, hard cash to pay for your holiday still applies. Next you’ll need a free air miles card which you’ll use to pay for only your flights (there’s an excellent article here on here on moneysavingzone the, by all means, let me know.
Wondering where the kids shovel comes in? Once you’re debt free, bury your card up to its neck and the sand and let the ants feast on it!