Money hacks

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make all my payments monthly.

BUT, when I had to dig out of credit card debt - I paud it every pay cycel ie twice a month. Any utility, subscription, credit card. I did not wait for the bill to come in. Because the credit card bill is usually 5 pay cycles too late. So until I had settled all my debt and had lots of cash in the bank, I did not dare to not pay off each pay cycle.

Also, having credit card on auto-pay is stupid.

Also, debit card that also functions as an ATM card is sheer stupidity. Ask for your ATM card to be seperate from your credit card or Debit card.

OP - I don’t understand this. I pay all my bills and subscriptions on autopay via my credit card. I have my credit card bill paid via my ch checking account on autopay once a month. This has never been an issue.

I'd also like to hear more about this so-called "ATM card that is separate from your debit card" product. I have never heard of such a thing. You can get an ATM-only card from some banks tied to a savings account. But if you want an ATM card for a checking account, it's also a debit card. That's just what the product is in 2025.

[Anonymous]

^ Billing errors sometimes occur. It is easier to solve them if you haven't already (auto-) paid the bill. It is also nice to solve them before one's bank account is emptied.

Also, as a general rule, I prefer to give as few things as possible access to my bank account.

Just because this hasn't bitten you yet doesn't mean that it won't.

[Anonymous]

Anonymous wrote:^ Billing errors sometimes occur. It is easier to solve them if you haven't already (auto-) paid the bill. It is also nice to solve them before one's bank account is emptied.

Also, as a general rule, I prefer to give as few things as possible access to my bank account.

Just because this hasn't bitten you yet doesn't mean that it won't.

OP - interesting. I don’t have that many recurring things maybe? I have everything on apps as well so easy to review. Currently on my debit or credit card autopay are weekly produce, monthly Netflix account, car insurance, daughter’s gymnastics class. Paid directly from my checking account are my car loan, phone, rent (check mailed to landlord).

[Anonymous]

Anonymous wrote:^ Billing errors sometimes occur. It is easier to solve them if you haven't already (auto-) paid the bill. It is also nice to solve them before one's bank account is emptied.

Also, as a general rule, I prefer to give as few things as possible access to my bank account.

Just because this hasn't bitten you yet doesn't mean that it won't.

I get my statements weeks before the payment is due. So I have plenty of time to check for billing errors. And unless you’re paying with money orders, they have your banking info anyway.

[Anonymous]

Anonymous wrote:I borrow cash (up to $60k) from credit cards for 4-5% fee a year, but my returns in the market are 70%+.

You are out performing Warren Buffett in a big way. Amazing that nobody knows who you are LMAO

[Anonymous]

Anonymous wrote:^ Billing errors sometimes occur. It is easier to solve them if you haven't already (auto-) paid the bill. It is also nice to solve them before one's bank account is emptied.

Also, as a general rule, I prefer to give as few things as possible access to my bank account.

Just because this hasn't bitten you yet doesn't mean that it won't.

Every single item that gets charged to my credit cards is texted to me so I review in real time. I spend about $125k across my cards annually and have caught maybe 2 incorrect charges totalling less than $500. Autopay is only an issue if you sleep on the charges.

[Anonymous]

I don't get the issue with autopay. I still scan my purchases regularly. I just don't have to worry that I'll forget or anything like that. It just goes.

Honestly I would be fine if it like, auto-debited from my account. The only reason I use the credit card at all is for the cash back/rewards.

I don't churn them or do anything with airline miles. I use an amazon Visa and the points just go to my amazon account and I use them at checkout.

[Anonymous]

Anonymous wrote:Sad to see all these people thinking they are gaming the credit card reward system. There is a reason that they have these programs, and it isn’t to help you.

If you pay your credit cards off each month, rewards programs are great and can pay for things like Christmas presents or airline tickets.

If you run a balance on your credit cards, then yes, the rewards don't help at all.

My hack: if you have good credit, a long standing credit card, and pay off your card each month, put your kid on the card as opposed to just giving them a card to use. It will start them off in life with a high credit score, above 700, even if they do not have a credit history of their own.

[Anonymous]

This isn't a hack but the best advice I ever got was to invest in retirement early when I first started working. I was aggressive about that for about 5 years in my 20s. And even though I earn significantly more now, the retirement investments from my 20s make up more than 50% of my retirement portfolio.

[Anonymous]

which credit union is that op?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make all my payments monthly.

BUT, when I had to dig out of credit card debt - I paud it every pay cycel ie twice a month. Any utility, subscription, credit card. I did not wait for the bill to come in. Because the credit card bill is usually 5 pay cycles too late. So until I had settled all my debt and had lots of cash in the bank, I did not dare to not pay off each pay cycle.

Also, having credit card on auto-pay is stupid.

Also, debit card that also functions as an ATM card is sheer stupidity. Ask for your ATM card to be seperate from your credit card or Debit card.

OP - I don’t understand this. I pay all my bills and subscriptions on autopay via my credit card. I have my credit card bill paid via my ch checking account on autopay once a month. This has never been an issue.

That just means that you have the money to pay off your credit card bills and all other bills. I am talking about when you are in debt and don't have money. It is better to pay off everything at each pay cycle, so that your debt does not grow. Also, once you have spend most of your salary money on paying bills, you have a good idea of how much money is left.

[Anonymous]

Anonymous wrote:I put our credit cards in the safe so I have them in a dire emergency, but I do all my spending with my debit card. It sounds like a superficial change but it makes such a difference to not have that big payment a month later, and forces me to stay on budget.

Or you can be responsible only spend what you budget and use your credit card for everything and want 2-3% back each month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I put our credit cards in the safe so I have them in a dire emergency, but I do all my spending with my debit card. It sounds like a superficial change but it makes such a difference to not have that big payment a month later, and forces me to stay on budget.

I used to do this, but now I just have a card set on autopay and I put everything on the card because the rewards really add up. Those credit card companies have us all by the balls.

right! Those rewards add up so fast. If companies gave me a % off, I would easily use cash, but they don't. I don't spend more. I mean am I not going to pay my kids' aftercare on time?

I use target circle pay tied to my debit and get 5% off everything. It’s prob cheaper for target and for me it’s like getting the CC rewards upfront.

[Anonymous]

We put money into my kids 529, then two weeks later take it out to pay tuition.

It allows us to get the benefit of reducing our state tax burden and doesn’t cost anything.

[Anonymous]

I am pleased that of all the suggestions made thus far, I either (i) already do them, (ii) have considered and, although I recognize that they may work for some, rejected them as not right for our family, or (iii) dismissed them outright as complete idiocy.