Using cash back?

[amira84]

I put all these rebate cheques in my tax free savings account. This money is used for crazy hot deals that are not included in our regular budget. I can say that this money goes for building stockpile.

[samm07]

I don't quite understand how your savings account would negate the points on your MC. If you put the cheques in your bank account, then pay for your purchases with the MC, pay it off with the cash from savings....wouldn't you still be able to use the money *and* get PC points? That's what I do.

Oh I could. I just tend to not touch my savings once it's actually in there unless it's an emergency. Lol.


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[EvilTofu]

I just put it in my checking account to pay for other bills. A dollar cash back is same amount as a dollar paycheck, I use them the same.

Every financial adviser would tell you this: If you have debt, pay it down first - from highest interest to lowest. If not, start saving for an emergency fund (3 months worth of expenses). When that's done, saving for your retirement.

Don't treat cash back as a windfall and waste it on shopping that's for sure.

[samm07]

I just put it in my checking account to pay for other bills. A dollar cash back is same amount as a dollar paycheck, I use them the same.

Every financial adviser would tell you this: If you have debt, pay it down first - from highest interest to lowest. If not, start saving for an emergency fund (3 months worth of expenses). When that's done, saving for your retirement.

Don't treat cash back as a windfall and waste it on shopping that's for sure.

We have been putting t away to fund a new bbq since ours is on its last legs. So saving for a planned expense

[Escargo]

I combine cashback both from my credit card and cashback websites.