Reply to I feel like I am doing money management wrong

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[quote=Anonymous][quote=Anonymous]I rent currently, have my car paid off and have no credit cards. I pay for everything from my bank account, I had a layoff last longer than I thought it would so used my savings to cover me while I was looking for employment and am getting back on track now. But I am paycheck to paycheck mostly now with a salary reduction and I think I'm doing something wrong by not having credit cards. Everyone I know says to use the cards to pay bills and then pay off every month. I just don't understand how that's better than just paying the bills directly. [/quote]

Some credit cards have benefits. I have a credit card tied to my bank that offers 2% cash back (and more on rotating categories). Because I have my bank account with the same bank, I get a 30% bonus every time I transfer money back to my bank account, so really it's a 2.6% cash back card. On $3000 spend every month, that's almost $1000/year.

Other people use cards that have points attached that they use for vacations.[/quote]

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