How You Can Save Credit Cards with a Credit Card
It’s no news that credit cards can quickly become expensive if you don’t know how to use them properly. So to help you save money with your credit cards, we’re sharing some of the best ways to save money when you have a credit card.
Cut the card in two halves Okay, we’re not talking about canceling the credit card. But if you cut the card in half, you really limit your spending. This is because you can no longer swipe the card to pay for things. You can no longer go past your favorite store, grab an impulse product, and pay for it with the card.
But by continuing to have the number, you can still pay bills and buy things online, where you don’t have to swipe the card. This really limits the places you can use the card. Plus it limits your spending on credit. Maybe by 50%, to put it that way.
Count on your bonus and loyalty points
Yes, the so-called free loyalty points. You know what applies, for every kroner you spend you get a point. Our advice is to find out how much a point is worth. For example, with a special credit card points system, you get SEK 500 worth of shopping for every 8,200 points. Therefore, for every kroner you spend, you get back 0.06 öre. About half a penny. The same credit card has an annual fee of SEK 200. So just to pay for your annual fee would have to spend SEK 328,000 in one year. They really aren’t reward points.
Give 10% to charity
Make a pact with yourself. For every SEK 10 you spend on your credit card, you must donate SEK 1 to charity. At the end of each month, add up the total amount and write a check to your favorite charity. Good for charity, but bad for your bank. Certainly 1 crown is not much. But if you are thinking of buying a 2000 kroner TV, just add 200 kroner. The easy way to save money is to always pay in cash. Then, and only then, can you avoid this self-imposed charity tax.
A personal message to yourself
Some people do this in conjunction with dieting. They write an inspiring message on the fridge or pantry. For example “Mind your waist” or “You’ve come this far”. But it actually also applies to your finances. Take a small piece of paper and write down your inspirational messages to yourself. Take a piece of clear tape and place it on the front and back of your card. Every time you pick up your card, this message is the last line of defense to prevent you from going through with your purchase.
