I’m not a proponent of credit cards nor am I advising anyone to go out there and start using credit cards. But I came upon this article about using reward points to help offset the rising costs of almost everything and I think the author, Maurie Backman is on to something. You can read the article, by clicking here.

“Of course, there are steps you can take to avoid having your personal finances take a hit in the face of inflation. Cutting back on non-essential spending is one, as is getting yourself a side job to boost your income. But here’s another tactic worth trying — applying for the right credit card.”
Think about it. There are several credit cards out there that give you 5% back. You can apply your rewards towards your credit card balance thus lowering your costs, depending on the credit card you are using, on groceries, or gas or work related expenses or homes costs. Granted yes, inflation is way higher than the 5% back, but at least it’s something. “Higher rewards can offset higher expenses.”
“To find the right credit card for you, take a look at your credit card statements from the past six months. That will help you identify the categories you spend the most in. That way, you can focus your search on the right rewards program.“
If this is something you may be interested, my suggestion is to read the article, click on the link Backman advises and see what is right for you. My only advice is make sure you pay that balance off, in full at the end of the month. If you incur any interest charges then the savings is moot. I looked over my own spending habits and I seem to like Amazon a lot! They offer their own Visa card to Prime members with that infamous 5% back! Ditto on my gas card. And ditto on my grocery shopping. There’s a 5% card back on practically everything. One of my readers wrote to me to tell me that she was able to afford a week’s vacay on Cape Cod by simply utilizing her reward points.
Happy savings!
Like this post? Sign up for free emails whenever I write a new post. You can also follow this blog, for free. Sign up links are posted on the upper right hand corner. I also accept donations when you buy me a cup of coffee and a croissant. Links are posted on the right hand side wall. Thanks for reading my blog!
A years supply of toilet paper? That reminded me. Today I went back to Aldi to buy my fave toilet paper and the pallet was empty. Oops. I missed out. I’m just getting the hang of rewards. Hope one day I’m up to speed like you!
LikeLike
Great deals! Layering is definitely the way to go. I do most of my online shopping through portals, usually with curbside pickup to avoid shipping charges. Cashback Monitor is a great tool to find the best rewards rate from travel portals or sites like Swagbucks & Rakuten (formerly Ebates).
Of course, explaining deal-match mechanics risks invoking the eyes-glazed-over response from those with less inclination to maximize rewards….
LikeLiked by 1 person
Docamocha, I’m starting to like rewards more and more with each passing inflationary day!!!
LikeLike
Yes, rewards credit cards are a great way to reduce living expenses, with Cindi’s caveat of paying off the balance in full every month.
I’d still like to figure a way to snag rewards from setting up an investment account at Merrill in conjunction with BOA, but I haven’t seen any bonus offers lately. Should have taken advantage when they were available earlier in the year.
As Cindi says, live and learn….
LikeLiked by 1 person
Docamocha, there have been a lot of good deals but have been getting harder and harder to snag lately. Best to keep a good eye open at all times!! Be patient. A new and better deal may just be around the corner!
LikeLike
I would call Merrill and see if they will offer you a bonus. Historically they offer bonuses on IRA’s in January through April. Sincerely, Lara
LikeLiked by 1 person
This just in: We got the Amazon Prime Credit Card and with it came a $60 Gift Card! So right of the bat we’re saving money. Now, we also will get 5% back from everything we buy at Amazon. The same deal goes for anything we buy at Whole Foods!
LikeLiked by 1 person
Also, my rewards from my RV stay at Cape Hatteras are in and we get $25 off our next stay. We’re heading out to Maine for a few days of R&R. Plus we get 10% off every booking and when we use one of our other credit cards we get 2% back on lodging (that’s a total of 12% off, plus the rewards for every dollar spent). I’m getting the hang of all of this!
LikeLiked by 1 person
Way to go Cindi! Sincerely Lara
LikeLike
Lara, we have the same thing on our gas card. We get $25. I apply it back to the bill. @$3.19 a gallon we are paying, for us it’s like getting almost 8 gallons free. Oh well.
LikeLike
Gas is $2.79 in RI. , and$2.99 cheapest in CT. Usual 3.15-3.15
LikeLiked by 1 person
When we were down south, gas was only $2.83, which coming from NY was a very good deal. They’re still lucky.
LikeLike
Great post!
I like to fly delta so my rewards card brings me so many sky miles! I can practically fly for free!
Cash back is great too!
LikeLiked by 1 person
Yes, reward cards are great. I use points to get things I normally use.
LikeLike